Financial fraud probe: PHC orders FIA to shift investigation venue

Petitioner’s counsel says the company in question is registered with State Bank.

PESHAWAR: The Peshawar High Court (PHC) on Tuesday ordered the Federal Investigation Agency (FIA) to conduct its inquiry against a company, Money Link Exchange, in Peshawar instead of in Karachi. The exchange company is allegedly involved in illegal money transfers.

A two-member division bench comprising Justice Waqar Ahmad Seth and Justice Abdul Latif Khan was informed by Advocate Tariq Afridi that the FIA had arrested Ghoofran, who was accused of exchanging money into foreign currency through the Hundi system, however, he was later released.

The lawyer added FIA’s investigation revealed the accused had worked for Money Link Exchange. Employees were summoned for investigation to Karachi despite the fact that the company’s office is in Peshawar, added Afridi.

Afridi, however, argued the money exchanger is not involved in any illegal business and is registered with the State Bank of Pakistan. The PHC had already issued a stay order, but the FIA persisted with conducting investigations in Karachi, he claimed.

Moreover, the court was informed the FIA director general had ordered transfer of investigations from Karachi to Peshawar, but his orders were not heeded.

The petitioner’s counsel told the court the accused had recorded his statement a year ago wherein he stated he had worked for the company at its sub-office in Karachi. The company has provided a list of employees registered with the State Bank.

After preliminary arguments, the court accepted the petition and ordered the FIA to transfer the case from Karachi to Peshawar, while both parties were directed to help each other to complete the probe.

Published in The Express Tribune, January 22^nd, 2014.