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Customs court seeks charge sheet against suspect in tax evasion, money laundering case

Customs court seeks charge sheet against suspect in tax evasion, money laundering case

KARACHI: Customs Court Judge Syed Faiz Rasool Rashdi has directed the investigation officer to complete investigations and submit a final charge sheet against a suspect, Muhammad Ishaque, who mis-declared his income and was allegedly involved in tax evasion and money laundering.

During the hearing, the investigation officer of the Intelligence and Investigation informed the court that the suspect is involved in concealment of his income and tax evasion of Rs 18.15 million.

He submitted that during the investigation, it revealed that accused has caused loss to government exchequer worth Rs 38,818,695 being prima facie unpaid tax amount, accused has willfully commissioned offences of concealment of income, acquiring assets from proceeds of crime as defined in section 2 (q) of anti-money laundering act of 2010 by committing predicate offence of tax evasion as defined in section 2(s) of Anti-Money Laundering Act, 2010.

Investigation officer further informed that court that complaint was registered against suspect for concealment of income, furnishing inaccurate particulars of income/ wealth, tax evasion, money laundering as defined in section 2 ® of the anti-money laundering act, 2010, property means property or assets of any description, whether corporeal or incorporeal, moveable or immoveable, tangible or intangible and includes deeds and instruments evidencing title to or assets, including cash and monetary instruments, wherever located.

After the hearing, court taken complaint into court record and directed him to complete investigation and submit final charge sheet against above mentioned suspect on next date of hearing.