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I&I-IR lodges FIR against father & children in money laundering case

I&I-IR lodges FIR against father & children in money laundering case

KARACHI: Directorate of Intelligence & Investigation-IR lodged first information report against father and his three children who are Pakistan and USA dual nationals are allegedly involved in money laundering and evaded taxes in the tune of Rs112,941,199.

On April 8, 2019, investigation officer submitted FIR before the court and informed a credible information was received that Pervaz Ali son of Matloob Ali, Ms Sara Ali daughter of Pervaz Ali, Ms Anum Ali son of Pervaz Ali and Jibran Ali have knowingly and willfully made offences of concealment of income, acquiring assets from proceeds and of crime by committing predicate offence of tax evasion whose quantum is Rs112,941,199 and transferred $4,094,500 the amounts of dollars to overseas to USA.

He further submitted when suspect Pervaz Ali was asked to give details than he tried to show that he gifted immovable property in Defense Housing Authority, DHA to his children, which they sold and transferred this money to USA, but he could not show the documentary evidence that his children actually sold immovable property but they were still owning those properties which means that the source of money deposited in their PKR accounts, cashed out, concerted into US dollars and remitted overseas, is dubious and thus must be the proceeds of crime.

Investigation officer further submitted that suspect also could bot show the documentary evidence of transfer of money from his bank account to his three of his children who are accused in this case, so it is concluded that he paid them the money which must be the proceeds of crime and he has abetted his children in remitting the proceeds of crime money overseas, his children, accused 2,3,4 have thus caused significant loss to the government exchequer as well as deprived the country of valuable foreign exchange, abetted in money laundering and tried to whitewash his black money of corruption and money laundering, by showing that he is a taxpayer and transferred his legally earned money to his children.