Reported By: Imran Khan

KARACHI: FIA expanded the investigations in Dossani Motors money laundering case to Noble Exchange Company Pvt. Gulshan-e-Iqbal branch.

FIA Corporate Crime Circle Karachi raided Dossani Motors office week ago and registered FIR against Babar Iqbal Dossani, the owner of Dossani Motors after recovering huge foreign and Pakistani currency amounting in millions.

In the further investigations, after the arrest of Babar Iqbal Dossani FIA team is working on to asertain the role of Farooq Kasmani (allegedly an investor of accused Muhammad Babar Iqbal Dossani) and Qaiser Raja (allegedly involved in selling of foreign currency to accused Muhammad Babar Iqbal Dossani without bills and slips, Branch Manager of M/s Noble Exchange, Gulshan Iqbal Branch situated at Shop No.7,8 Gulshan View, Block 13-C, Gulshan-e-Iqbal, University Road, Karachi.

Document available with Indus Gazette reveals that a credible information was received to the effect that one Muhammad Babar Dossani and others, are engaged in illegal business of transfer of money foreign currency through reference Hawala, Hundi and also selling supplying Foreign Currency from his Showroom situated at shop No.4, FL-23, Gulshan-e-Jamal Rashid Minhas Road Karachi, upon approval, Enquiry No. 10/2022 of FIA Corporate Crime Circle (CCC) Karachi was registered with the directions to proceed as per law.

Subsequently, on the directions of Director FIA Sindh Amir Farooqiue, Additional Director Dr Farooq constituted a team of FIA CCC Karachi, comprising of the SI Muhammad Tahir, Inspector Asfandyar Khan, Inspector Zainullah, Insp. Amir Ismail and other staff under the supervision of Insp. Zainullah, proceeded to the above mentioned address of M/s.Dossani Motors as informed by the source.

Upon reaching the above referred location, the raiding party entered into the showroom M/s Dossani Motors where one Muhammad Baber Iqbal Dossani (owner) was present. After due introduction FIA team inquired about his work and line of business. Muhammad Baber Iqbal Dossanj informed that he is doing the business of sale / purchase of vehicles. Thereafter, FIA team conducted search of the premises which resulted into recovery of incriminating material, huge quantity of different Foreign Currencies including 72,359 US $, 26,050 UK Pound Sterling, 20,218 Saudi Riyal, 111,690 UAE Dirhams, 34,000 Turkish Lira and 2,194,000 Pakistani Rupees.

On being asked about the presence of huge quantity of Foreign Currency in the showroom, Muhammad Baber Iqbal Dossani had failed to give any plausible reply. Upon further questioning, Muhammad Babar Iqbal Dossani admitted that he is providing foreign remittance services to his parties from Pakistan to Dubai and vice versa under the garb of showroom. He further admitted that he is also selling foreign currencies such as US$, UK Pounds, UAE Dirhams etc to his parties without bill / slip on higher rates after obtaining the same from different Money Exchanges.

Furthermore, Muhammad Babar Iqbal Dossani had also voluntarily produced his cell phone, upon scrutiny of the cell phone, following T.T was found including various WhatsApp chats/ audio and text messages pertaining to Hawala instructions to remit money abroad, in which Transaction number 6572384918 Amounting to USD 15,000 was made for Marky Co ltd Trading Company to the Benificiary Noroo Paint & Coatings Co.

Moreover, the photo copy of the above mentioned TT was also found from the showroom, therefore, the recovered Foreign and PKR Currency along with copy of TT and Cell Phones were taken into FIA possession and seized through proper seizure memo dated 17.02.202 at 1730 prepared on the spot in presence of witnesses.

Upon reaching to the PS FIA, CCC, Karachi, the interrogation of Muhammad Baber Iqbal Dossani were conducted in the light of recovered foreign currencies, T.T and whatsapp. messages / voice notes in the Cell Phones but failed to give any plausible justification rather voluntarily disclosed that the recovered foreign currency is belonged to one Farooq Kasmani (Investor) who had given the said foreign currency to him for his business. Muhammad Babar Iqbal Dossani has further disclosed that he regularly purchased the US$ from M/s Nobel Exchange Category-A Gulshan-e-Iqbal Branch Karachi (branch manager is Qaiser Raja), without any bill or slip according to demand and supply of the US Dollar in the market.

The scrutiny of seized documents as well as record procured from WhatsApp chat used by accused person reveals that he is engaged in illegal business of transfer of foreign remittance to abroad and selling / supplying of different foreign currencies including of Dollars to various persons / parties without issuance of any receipt / slips, which is one of the core reason of inflation in USD prices and damaging the economic system of the country.

Hence, case was registered against accused Muhammad Baber Iqbal Dossani S/o Muhammad Iqbal Dossani R/o House No.A-38, Malik Society 16-A Scheme-33 Karachi under section 4/5/23 FER Act 1947 with Section 3/4 AML Act.