LAHORE: A Lahore High Court (LHC) bench, assigned hearing of a bail petition of Pakistan Muslim League-N (PML-N) leader Khwaja Muhammad Asif in money laundering and assets beyond means case, was dissolved on Tuesday. The dissolution happened after a member of the bench, Justice Asjad Javaid Ghural, recused himself from hearing the petition. The bench […]
money laundering
NAB arrests money laundering accused
National Accountability Bureau (NAB) Karachi here Thursday arrested one Muhammad Sohail in money laundering probe, said a NAB release. The accused operates a money exchange namely DD Exchange at II Chundigarh Road Karachi. He is allegedly involved in money laundering. He has been laundering black money worth millions of rupees of Sharjeel Inam Memon since […]
Money laundering is a major threat to economy
Money laundering, white-collar crime, corruption and tax aversion are global issues and not a challenge for Pakistan alone. That said, they have had a major role in the destruction of Pakistan’s economy. The recent inflation and the hike in prices of fuels is all because of corruption and money laundering. Money laundering is a serious […]
NRO in Hudaibiya case reason behind money laundering: PM
Prime Minister Imran Khan Sunday said the country could have got rid of money laundering if Hudaibiya case was decided on merit and the Sharif family was not given an NRO (National Reconciliation Ordinance) by former military dictator General (r) Pervez Musharraf. In a meeting with Minister for Information and Broadcasting Fawad Chaudhry, the prime […]
Mega money laundering case transferred to Islamabad
KARACHI: A banking court on Friday granted permission to transfer the fake bank accounts and mega money laundering case to Islamabad. The court had reserved the decision last Monday. The banking court announced the decision on Friday and ordered the National Accountability Bureau (NAB) to transfer the money laundering and fake account cases to Islamabad. […]
Govt all set to bring looted money back: Advisor to PM
ISLAMABAD: The government has started the process of bringing back the looted money and an agreement with the Britain will be signed to bring back those who are hiding there. Special Assistant to Prime Minister on Accountability Shahzad Akbar on Wednesday stated this while giving an interview to a local channel. He said that assets […]
Real estate around Bilawal House Karachi a hotbed of money laundering: JIT
KARACHI: Joint Investigation Team (JIT), constituted on directive of Supreme Court for probing into bank fraud accounts has revealed that nearly Rs 84 billion of money laundering were used for buying 46 real estate units in and around Bilawal House Karachi during period of 2008 to 2014. During a marathon investigation process, JIT unearthing ill-gotten […]
Govt to ink agreements with Switzerland in effort to bring back looted money
ISLAMABAD: The federal government has decided to sign agreements with Switzerland, Central Europe and Middle East nations to eliminate the illicit and secret practice of money laundering. Information Minister Fawad Chaudhry said that authorities would be given access to the accounts of Pakistanis present in the Central European countries. In the first phase, Pakistan will […]
Banking court grants Zardari interim bail in money laundering case
Former president and Pakistan People’s Party (PPP) co-chairman Asif Ali Zardari on Friday was granted bail after he submitted bonds worth Rs2 million. Zardari appeared before a local banking court in an in-progress money laundering case accompanied by his counsel Farooq Naik. Also read: Court issues arrest warrant for Asif Ali Zardari in money laundering case Previously […]
Zardari to appear before FIA today in money laundering case
Islamabad: The Federal Investigation Agency (FIA) has summoned former president and Pakistan People’s Party (PPP) co-chairman Asif Ali Zardari to appear before the agency for questioning in a money laundering case. Asif Ali Zardari already arrived at Islamabad from Karachi on Sunday to appear before the FIA. Zardari’s sister, Faryal Talpur, will also be appearing […]