ISLAMABAD: Following the allegations that the FIA was being used to settle personal and business scores, the Director General FIA has ordered to initiate strict departmental action against the team that raided the an exchange company month ago. Instructions have also been issued to transfer the investigation of the case to another zone. It was suspected earlier soon after the raid that many facts were concealed.
According to the documents received by Indus Gazette, on 26th of February, a team of FIA Corporate Crime Circle Lahore raided the office of Noble Exchange Company in Gulberg area and arrested two suspects allegedly involved in illicit transfer of money, during the raid FIA team confiscated local and foreign currency amounting up to Rs 16 million.
A case was registered U/s 45,23 FERA 1947 R/W 109 PPC R/W 3,4 Anti-Money Laundering Act 2010 against the accused Usman Ali s/o Abdul Majeed Munawar and Adeel Mushtaq s/o Muhammad Mushtaq and CEO, Board of Directors, Shareholders of Nobel Exchange Pvt.
Following the raid, reports surfaced that Mian Shabeer, a partner in ownership had reportedly sold shares to a man named Mian Majeed (Father of arrested suspect Usman Ali, but ownership disputes erupted afterword in which a senior official also played a key role, with sources claiming that he was also a shareholder in the exchange company and that his pictures were also seen with a company owner.
meanwhile Director FIA Lahore Dr Rizwan took this case very seriously and closely monitored the further outcomes, a week latter the raid, he sent a letter to DG office Islamabad containing some revelations and recommendations in which he suggested revocation of the license of the currency changer, he all recommended that the names of owners of company should be placed on black list for involvement in money laundering activities.
He further revealed that the Noble Exchange Company Pvt. Ltd. is based in the main market of Gulberg, where illegal foreign exchange and IMVTS were being done illegally, while during the preliminary investigation it was found that Rs. 16 million was not working capital but money used for anonymous crimes, in addition, the owners of the company are illegally and secretly providing Hawala services and using their business premises for black money investors.
The letter further revealed that all the 15 branches and franchises of Noble Exchange are using the same method for illegal sale and purchase of IMVTS and FCY. The bulk of the Rs 84 crore proceeds of crime of the Double Shah scandal was injected in the Nobel Exchange as an anonymous investment, the letter further recommended that the names of the owners of the company should also be blacklisted. While the matter of revocation of license of the said company should be sent to State Bank of Pakistan.
According to the letter No HQ/DL/Gen-/P2-28/2022/1462-66 that was issued from FIA headquarters by Director Law Abdur Rehman Khan Afridi a week ago, Abdul Majeed Munawar appeared before the DG FIA along with copy of FIR No. 13/2022 and the Addl. DG FIA Immigration was assigned a task by DG FIA to verify the facts of the said application. The Addl. DG FIA Immigration, after verification of facts, submitted his verification report, in which he recommendations to transfer the instant case immediately from Lahore Punjab Zone-l to any other Zone to conduct the fair investigation and to initiate strict departmental action against the raiding team of FIR and any other officer or official in the light of above conclusion.
The Director General FIA has agreed with the recommendations of the Verification Officer and directed to initiate necessary action in compliance of the said recommendations.
Interestingly, the second claimant of the Gulberg main market branch of Noble Exchange Pvt, Mian Shabeer repotedly claimed that he had also submitted an application in previous month to FIA against occupation on his company which resulted into FIA’s raid. A reliable source claimed that there might be no use of transferring the case out of Zone one Lahore instead of South Zone because it could be influenced.