KARACHI: The Sindh High Court (SHC) has accepted the plea of a suspect, who is behind bars for his alleged involvement in Rs 35 billion gold smuggling scam, for reduction in the surety amount.
A single bench comprising Justice Naimatullah Phulpoto directed the accused to deposit surety bond of Rs 1 million.
According to sources on August 5, the Special Court of Customs Taxation and Anti-Smuggling approved the bail for Muhammad Shakeel with surety of Rs 2 million on the grounds of statutory delay. Later, the accused submitted an application to the Judge, requesting him to reduce the surety amount but it was rejected.
Subsequently, the accused through his counsel Zakir Leghari approached the SHC, seeking reduction in the surety, stating that he cannot arrange this huge amount, and requested for reduction.
The FIA authorities arrested Shakeel on June 2, 2014, for giving his authorisation to the export of gold on fake E-forms, which caused huge loss to the national exchequer. The FIA Corporate Crime Circle registered an FIR under Section 156(1)(8), 32/32-A punishable under Section 156(1)(14) of Customs Act 1969.
Shakeel, the deputy director the Trade Development Authority of Pakistan, Karachi, registered the firms M/S Rayyan Collection, M/S Atta Casting, M/S Ather Jewellers and M/S Al Huda Bangles as exporters under Section 3 of the SRO 266(1)2001 dated May 7, 2001, issued by the federal government for exporting gold jewellery, silver jewellery, precious/semi-precious stones and platinum jewellery without fulfilling the mandatory formalities.
