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January 8, 2015

Money laundering accused sent to jail on remand


January 8, 2015

The director and manager of a foreign exchange company allegedly involved in money laundering were sent to jail on Wednesday on judicial remand by a local court.
The judicial magistrate (East) also directed the investigation officer (IO) to submit final charge sheet in the cases against the two accused of having transferred foreign currency amounting Rs 140m abroad while violating the rules and regulations.
Earlier, the FIA official brought the two accused to the court amid heavy security.
Javed Khanani, the director of Khanani and International, and his manager Taufeeq were caught by the FIA after receiving a report from the Financial Monitoring Unit (FMU) that during a short period of only two months transactions of more than Rs140m were made from a single account.
The FIA lodged money laundering cases against the accused under Sections 3/4 and other provisions dealing with corrupt financial practices while violating the laws of State Bank of Pakistan (SBP).
It may be mentioned that Khanani is facing several cases, along with his partners Hanif Kalia, Munaf Kalia, Atif Aziz Polani and others.
In some of the cases, Hanif Kalia, Munaf Kalia, Javed Khanani and Atif Polani were booked by the FIA on the SBP’s complaint for illegal foreign exchange transfer and running parallel banking.
According to the FIA, the accused were indulged in illegal transfering of foreign exchange worth billions of dollars in collusion with different foreign exchange companies, money changers and businessmen
The nine officials of the Khanani and Kalia International Group were nominated in the FIRs.
Munaf Kalia and Javed Khanani were arrested by the FIA on the charges of the country’s biggest money laundering from Karachi and Lahore respectively in 2010.
Hanif Kalia, the elder brother of Munaf Kalia, who is also facing the same charge was arrested by the Federal Investigation Agency (FIA) from his apartment in Clifton. All three

are in jail custody for their alleged involvement in money laundering.

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