A homeless Lahori revealed to have accounts in Credit Suisse with Rs.4 billion

Muhammad Javed had never traveled abroad but had a combined Rs.4 billion in 'his' Credit Suisse accounts.

A homeless Lahori revealed to have accounts in Credit Suisse with Rs.4 billion

According to official reports, it has been revealed that a homeless person in Lahore, had two accounts in a Swiss Bank to his name. Muhammad Javed had never traveled abroad but had a combined Rs.4 billion in ‘his’ Credit Suisse accounts.

It was verified that the accounts were opened under his name, and it goes to show that fake accounts are not just limited to Pakistan, but extend to Swiss banks too.

Credit Suisse accounts

When the first account was opened in 2003, Javed was 26 years old and was a factory worker. His earnings were between Rs.200 to Rs.300 per day, and he did not even have a passport, which is a necessity to open an overseas bank account.

The account accumulated a total of Rs.3.4 billion in 2005 in just a week. This all happened before Javed got his first passport made, in an attempt to go to Malaysia and earn a better livelihood. However, the agent demanded Rs.150,000, which he didn’t have. So, Javed never got his passport renewed after that.

The second account at Credit Suisse opened before he registered for his passport, as well. The account received a staggering Rs.401 million back in 2006. This data was leaked by a German newspaper, which connected it with Organized Crime and Corruption Reporting Project and other media organizations. The two accounts were then closed in 2006.

The news of this came as a shock to Javed himself as well. He said that if he had billions, he would not be living at a sewage drain. Javed’s family has been living here since 1947, ever since his grandfather migrated. A couple of months ago, LDA demolished the slums, giving the family ten minutes to pull out their luggage.

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