KARACHI: The Customs Taxation & Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi granted interim pre-arrest bail to suspect namely Usman Shahid son of Shahid Zaki, who was booked in a case of money laundering, concealment of assets and evasion of taxes to the tune of Rs576 million to national exchequer.
During the hearing, counsel for the above mentioned accused person appeared before the court and moved petition for pre-arrest bail, he argued that his client is innocent and was falsely implicated in this case, he further argued that his client in ready to face trail, however, he has apprehension of arrest, therefore, court may grant his bail till final order is this case.
After the hearing, court granted his bail against the surety of Rs2,000,000 (twenty lacs) and directed him to appear before the court on 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 offence” of tax evasion whose preliminary investigation from an available record.
Investigation officer further informed the court that above mentioned accused also knowingly and willfully 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.
