Islamabad ; Bahria Town Vice Chief Executive retired Colonel Khalilur Rehman and two others are convicted in a case involving illegal foreign exchange, hawala, hundi operations, and illegal property transactions. The court sentenced all three convicts to one year in prison and imposed a fine of Rs. 500,000 each.
The other two convicted individuals are hawala agent Imran Kaka and property dealer Mushtaq Ahmed, who were found guilty after the charges were proven in court.The verdict marks a significant development in the case concerning illegal forex dealings, hawala,hundi transactions, and associated real estate activities.
Earlier this year, Bahria Town’s retired Col Khalilur Rehman was sentenced to 10 years in prison after a court convicted him in a Rs1.6 billion money laundering case.The court also imposed a Rs25 million fine, ordered the confiscation of assets linked to the offence, and ruled that failure to pay the fine would result in additional imprisonment.
According to the Federal Investigation Agency (FIA), Rehman concealed the origin of illicit funds through layered financial transactions and third-party accounts. The court held that the scale of the alleged laundering and the sophisticated methods used warranted a severe sentence.The conviction adds to the mounting legal troubles surrounding Bahria Town. Founder Malik Riaz remains an absconder in the Al-Qadir Trust case, while several Bahria Town properties across Pakistan continue to face legal action.
The FIA said the verdict reinforces its commitment to pursuing money laundering and financial crimes without discrimination.
