Pakistan, Aug. 5 -- The Federal Investigation (FIA) has launched a detailed probe into Universal Tobacco Company (UTC), a Mardan-based cigarette manufacturer, over serious allegations of tax evasion and financial fraud. The company is accused of dodging Federal Excise Duty (FED) payments and possibly engaging in money laundering activities.

Investigators believe UTC manipulated sales figures and underreported production to avoid paying millions in federal taxes. The company allegedly misused the FBR's Track and Trace stamp system, which monitors cigarette manufacturing and distribution, to conceal actual sales volume and evade excise duties.

Initial evidence also points to possible collusion between UTC and certain tax officials, allowi...