The FBR report was a smoking gun against QFI and his family before the SC voted to save him. It was a damning indictment of his concealment, lying and deception of assets, which showed that there was definitely some corruption and money laundering through his official position.

In the tax proceedings, Sarina claimed 50% investment in the London properties, and then claiming responsibility for 100% investment – tax proceedings against her children were dropped.

Interestingly, London properties were declared for the first time on 03/01/2020, while properties were purchased in 2004 and 2013.

The value of the properties does not match the wealth declared and funds available with the tax payer.
a. Total value of London properties: Rs. 104,680,020
b. Total cumulative income declared for tax years 2007 to 2012: Rs. 9,375,931

How is it that they were able to buy something above their means? They made a lot of noise about agricultural income (Tax exempt). But then why was it never declared in any tax return, nor any
receipts been provided?

They were also unable to provide any justification for the source of deposits in their bank accounts. The joint foreign currency account with her husband in MCB Karachi was never declared until 2018. Why is that?

They used the cover of the Foreign Currency Bank Accounts Ordinance 2001, where inquiries were avoided. The thing is that the ordinance only provides freedom to operate foreign currency accounts, and does not give exemption on inquiries.