KARACHI: The customs court has granted bail to suspect Jawed son of Muhammad Iqbal, proprietor of M/s Iqra Corporation against the surety of Rs300,000 and directed him to make sure his appearance on each and every date of hearing before this court, who is nominated in first information report (FIR) for money laundering scam.
On 21 October 2021, counsel for the applicant/ accused moved bail application and argued that his client is innocent and has been falsely implicated in this case, who is ready to submit surety and ready to make sure for attendance this court on each and every date of hearing without fail, therefore, court may grant his bail till final judgment in this case. After the hearing, court granted his bail and directed him to appear on next date of hearing without fail.
Earlier, Investigation officer of Inland Revenue (IIR), Directorate of Intelligence & Investigation-FBR, Karachi had submitted interim charge sheet against the above-mentioned accused persons and informed the court that during initial investigation and as per financial intelligence report, above mentioned accused is involved in tax evasion, which is a predicate offence under the anti-money laundering act, 2010, if tax sought to be evaded is exceeding Rs. 10 million of more SRO 425(I)/2016 dated May 20, 2016.
He submitted that any property deprived or obtained directly or indirectly by any person from the commission of a predicate offence is referred to as proceed of crime, hence this offence initiated an enquiry in this regard, whether suspect has committed predicate offence specified under section XII-A in the schedule to the anti-money laundering act, 2010 and acquired assets from the proceed of crime and that the tax sought to be evaded in rupees or above.
He added that accused was found for submission for false statement and discrepancy in return of income and wealth statement as compared to hefty credit entries in bank accounts, mis-declaration of business activity as compared through scrutiny of AOF of banks and registration profile on FBR e-portal and evaded taxes amounting to Rs.295,334, 037.
