Businessman’s Remand In Money Laundering Case Extended

Dawn

HYDERABAD: An accountability court judge on Tuesday further remanded businessman Iqbal Z. Ahmed into custody of the National Accountability Bureau (NAB) till Oct 11 in an alleged money laundering case of billions of rupees.

Mr Ahmed owns companies, including M/s Associated Group, Jamshoro Joint Venture Limited (JJVL) and others.

Representing Mr Ahmed in court, Farooq Hameed Naek opposed the grant of remand. Giving the remand, the court also allowed meeting of Ahmed with his family members twice a week between 3pm and 4pm. He was produced before the court by NAB officials.

Mr Naek argued that NAB was in fact talking about avoidance of tax, the cognizance of which could only be taken by the Federal Board of Revenue (FBR). He said that under Anti-Money Laundering Act 2010, this case did not fall in the purview of the National Accountability Ordinance (NAO) 1999. He said the case could pertain to NAO 1999 if money was allegedly laundered through corruption, which was not the case. He said that it was a case of avoidance of tax and could be referred to the FBR.

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