KARACHI: Investigation officer of Inland Revenue (IIR), Directorate of Intelligence & Investigation-FBR, Karachi has submitted progress report before the customs court Karachi against Jawed son of Muhammad Iqbal, proprietor of M/s Iqra Corporation and others, who were nominated in first information report (FIR) for money laundering scam.
On 12 October 2021, investigation officer appeared and 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 Rs10 millions of more SRO 425(I)/2016 dated May 20, 2016.
He submits 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 Rs295, 334, 037.
