LAHORE: The Special Court of Customs Taxation and Anti-Smuggling has issued a final verdict in a case of money laundering which is a strict lesson for the people who convert their black money into white through illegal means.
Special Court judge Nazeer Ahmad Gajana has sentenced Tariq Mahmood, a money laundering suspect, to three years imprisonment and Rs 5 million fine. The foreign currency that was recovered from his possession has also been confiscated .
The Customs Lahore had arrested him when he was travelling for Gulf state. A huge amount of Korean won, that is equal to Rs 3.4 million, as well as dollars and euros were recovered from him.
A Special Court of Customs Taxation and Anti-Smuggling has sentenced Tariq Mahmood to three year imprisonment after allegations of currency smuggling were proved in the court.
Tariq Mahmood was arrested by the Customs authorities from Allama Iqbal International Airport in 2012 when he was making an attempt to smuggle foreign currency to a Gulf State.
Customs arrested him red handed and produced him in the court where after trial of more than two years the Special Court has sentenced him to jail for three years.
According to Ijaz Bhatti Advocate of Lahore High Court money laundering is a non-bail able and non-cognizable offense as per money laundering act of Pakistan 2007. Any person involved in money laundering can face jail and seizer of the amount that he attempts to fly from Pakistan and heavy fine as well. A money laundering culprit can also face a seizure of property. It is a very serious and heinous crime, he said while talking to Customs Today.
