Saturday, March 5, 2011

Banking Court acquits Hanif Kalia, Munaf Kalia, Javed Khanani and others in Money laundering case

Hanif Kalia
Judge Mir Muhammad Sheikh of Banking Court Karachi Friday acquitted for lack of evidence three directors of M/s Khanani & Kalia International in money laundering scam of 2008.

Hanif Kalia, his brother Munaf Kalia, partner Javed Khanani with other accused Atif Aziz Polani and some bank managers were facing trial under Pakistan Penal Code, Foreign Exchange Regulation Act 1947 & Pakistan Electronic Crimes Ordinance 2007.
Munaf  Kalia

According to prosecution, FIA arrested Hanif Kalia, Munaf Kalia & Javed Khanani on allegation of illegally transferring money through Hawala in 2007. FIA arrested them from Karachi and Lahore, sealing offices of K&KI across country. FIA Crime Circle Karachi registered case against them (FIR 76/2008) US 406, 409, 420, 468, 471, 477A, 109 PPC RW Sections 5/8, 22/23 Foreign Exchange Regulation Act 1947 & Sections 7, 8, 20 Prevention of Electronic Crimes Ordinance 2007.
Javed Khanani

FIA widening scope of investigation also arrested co-accused Masood Abbas, Syed Wajahat Ali of Allied Bank Limited’s Bahadurabad branch, Tehsin Ahmed of Habib Bank Limited Hasan Square & Arifur Rehman of MyBank Cloth Market Branch Karachi.

On Friday, Justice Mir Muhammad Sheikh pronounced verdict, acquitting all accused due to lack of evidence. They were already acquitted in case registered under PECO 2007 by Judicial Magistrate concerned, who was heading special tribunal to deal such cases.

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