Aug 19 , 2015
News
Progress made in money laundering probe against political figure’s ‘frontman’
KARACHI: Investigative agencies have made progress in probe against Mohammad Ali Shaikh – the ‘frontman’ of a renowned political figure of Sindh – over charges of money laundering and land grabbing among other fraudulent activities.
The agencies have obtained vital evidence against Shaikh for being involved in money laundering. He has allegedly transferred tens of thousands Emirati dirham to Dubai through illegal means.
200,000 United Arab Emirates dirham (AED) to two million dirham can be transferred through Hundi Hawala in one go.
The laundered amount was allegedly collected through land grabbing in Karachi. Shaikh was arrested by the law enforcers and intelligence agencies in June.
Courtesy www.thenews.com.pk