Forex trade: Bail granted to ‘fake currency dealer’
The petitioner had been in prison for more than a month and no progress was shown by the prosecution on the case
LAHORE:
A court granted post-arrest bail on Wednesday to a suspect allegedly involved in selling forged currency notes of different countries.
In his bail petition before an additional district and sessions judge, Muhammad Akbar stated he was implicated in the fake case to blackmail him. The Federal Investigation Agency prosecutor opposed the bail plea, saying the suspect was caught red-handed while selling fake currency notes.
However, the judge in his order mentioned adequate evidence was not brought forward to prove the accused guilty. The petitioner, he added, had been in prison for more than a month and no progress was shown by the prosecution on the case.
Akbar was granted a post-arrest bail against the submission of surety of Rs200,000. The FIA had arrested Akbar along with two more suspects and confiscated INR200,000 from him in a raid in Government Colony, Okara. The other two forex traders – Muhammad Naeem and Ijaz Ahmed - were caught with INR350,000 and Rs150,000, respectively.
Published in The Express Tribune, November 24th, 2016.
A court granted post-arrest bail on Wednesday to a suspect allegedly involved in selling forged currency notes of different countries.
In his bail petition before an additional district and sessions judge, Muhammad Akbar stated he was implicated in the fake case to blackmail him. The Federal Investigation Agency prosecutor opposed the bail plea, saying the suspect was caught red-handed while selling fake currency notes.
However, the judge in his order mentioned adequate evidence was not brought forward to prove the accused guilty. The petitioner, he added, had been in prison for more than a month and no progress was shown by the prosecution on the case.
Akbar was granted a post-arrest bail against the submission of surety of Rs200,000. The FIA had arrested Akbar along with two more suspects and confiscated INR200,000 from him in a raid in Government Colony, Okara. The other two forex traders – Muhammad Naeem and Ijaz Ahmed - were caught with INR350,000 and Rs150,000, respectively.
Published in The Express Tribune, November 24th, 2016.