KARACHI: Customs Taxation and Anti-Smuggling Court Judge Syed Faiz Rasool Rashdi has directed the investigation officer to complete investigations against suspects, Shoukat Ali Nadeem, proprietor of M/s Sunder Trading Company Lahore, Zaheeruddin, proprietor of M/s MMYZ International Lahore, Faisal Nadeem and others, who are allegedly involved in a money laundering case.
During the hearing, the investigation officer informed that that the suspects, in connivance and collusion with each other, imported 19 consignments of surveying equipment by the way of concealing actual transaction value through submission of manipulated/ bogus/ fake/ forged invoices and evaded duty and taxes of Rs 54,799,140.
He further informed that during the investigations, accused categorically admitted their guilt and stated that the offence of mis-declaration and fiscal fraud and disclosed that the suppressed value of the consignments was sent to the shipper through hawala arranged by M/s Abid & Abdullah, an alleged money changer company.
The investigation officer further informed that the Federal Board of Revenue has nominated an investigation officer for investigation and findings of which will be produced before this court.
After the hearing, court directed him to complete investigation and produce progress report on next date of hearing.
Case was registered against them for violation of under section 3 & 4 read with clauses (d) & (e) of section VI of schedule to Ant-Money Laundering Act, 2010 further under section 32 (1) & (2) and 32A read with section 25, 79(1) of the customs act, 1969 further read with section 3, 6, 7A, and 34 of the Sales Tax Act 1990 and section 148(1) of the Income Tax Ordinance, 2001 punishable under clauses (14) & (14A) of section 156 (1) of the Customs Act 1969.
