ISLAMABAD Federal Investigation Agency (FIA) has booked Iqbal Z Ahmed, a tycoon in energy sector, who is allegedly involved in transferring Rs. 1.7 billion abroad in the name of Iqbal Afridi, his close associate, and others. FIA sources have confided to TheNation that a challan against the accused has been submitted to Director General FIA awaiting its presentation in the court. Extreme pressure is being exerted on FIA to stop it from presenting challan in the court for the issuance of Iqbal Z. Ahmeds arrest warrants, the sources informed. The sources have further revealed that an influential minister, who has been elevated from the status of an advisor and is considered a close associate of President Asif Ali Zardari, is pressurising the Agency to close the case but DG FIA still seems interested in pursuing the case. It is pertinent to mention here that Iqbal has invested in Rental Power Plants (RPPs) and deals in liquefied petroleum gas (LPG) business. He enjoys good relations with the high-ups of both previous and present regimes. The case was registered against him after the busting of Malik Money Exchanger, Karachi, a company that was found involved in money laundering. The sources revealed that name of Iqbal came to light from the record of the said company and the Agency found that he had also been sending money abroad through that company. Malik Exchange Company was owned by Minister for State of Kashmir Affairs, Sardar Abdul Razzak, and a multibillion rupees money laundering scam came to surface in June this year that was committed by the said company. It was then reported that FIA arrested many persons after tracing 21 secret accounts of fake companies those made illegal transactions amounting to Rs. 15 billion to abroad and more importantly moneys were also sent to tribal areas of Pakistan. With the help of record of Malik Exchange, investigations are also underway against some bankers who assisted Iqbal in transferring money. The sources informed that interestingly Iqbal in his justification had written to the Agency that he did not know about the unauthorised status of Malik Exchange, adding, We hope that we have clarified the matter and that the issue will be closed. An FIA spokesman has confirmed that the case exists, however he refused to give comments saying, No comments at this stage can be given but the matter would be decided on merit.