KARACHI: A Customs Taxation and Anti-Smuggling Court has directed investigation officer to produce evidence against a suspect namely Usman Shahid, who was booked in a case of money laundering, concealment of assets and evasion of taxes to the tune of Rs 576 million.
Earlier, The suspect appeared before the court and moved a petition for pre-arrest bail. The counsel argued that his client was innocent and was falsely implicated in this case, and that his client was ready to face trail, however, he had apprehension of arrest, therefore, the court might grant him bail till final order in the case.
After the hearing, the court had granted him bail against the surety bonds of Rs 2,000,000 and directed him to appear before the court on the next date of hearing.
According to the prosecution, investigation a money laundering case is respect of Usman Shahid in the ground that the suspect has knowingly and willfully made offences of concealment of income, acquiring assets from proceeds of crime by committing “predicate offense” of tax evasion whose preliminary investigation from an available record.
Investigation officer further informed the court that above mentioned accused also knowingly and wilfully submitted inaccurate/ wrong particulars to federal government of Pakistan in his income tax returns filed for tax year 2011 to 2016, he has concealed his true revenue/ turnover/ income from government of Pakistan with intention of evading the trust reposed in him as a taxpayer/ citizen of Pakistan. Therefore, case was registered against him for violation money laundering and income tax ordinance.
