FIA Secures Major Court Victory; Court Orders Confiscation of Assets Linked to Hawala/Hundi Transactions

Islamabad (Report: Izhar Khan Niazi): The Federal Investigation Agency (FIA) Commercial Banking Circle Islamabad has secured a significant legal victory in the Bahria Town illegal foreign exchange case. Additional Sessions Judge West Islamabad, Nasr Minallah Baloch, announced the verdict, convicting Colonel (Retd.) Khalil-ur-Rehman, Vice Chief Executive of Bahria Town, Imran Kaka, and Mushtaq Ahmad for their involvement in illegal foreign exchange dealings and the Hawala/Hundi business.

The court sentenced each of the three convicts to one year of imprisonment, imposed a fine of Rs. 500,000 on each, and ordered the confiscation of assets linked to the illegal financial transactions.

According to the FIA, the case had been registered under the Foreign Exchange Regulation Act. The investigation uncovered evidence of large-scale undocumented financial transactions and the transfer of funds through Hawala/Hundi channels. Financial records also revealed an unusual increase in the assets of the convicted individuals.

The FIA stated that Deputy Director Rana Abid Hussain, Investigation Officer Inspector Zahid Bhatti, and Assistant Director (Legal) Muhammad Afzal played key roles in the successful prosecution of the case. The agency described the court’s verdict as a significant milestone in its ongoing crackdown against illegal Hawala/Hundi operations and money laundering.