KARACHI -- All people affiliated with Khanani and Kalia International, which used to be one of Pakistan's largest foreign exchange companies, have been acquitted in a money laundering case.
The verdict was announced by a single bench of the Sindh High Court on Wednesday.
Abdul Aziz Polani, Altaf Khanani, Zakeera Javed Qasim, Hanif Kalia, Munaf Kalia, Javed Khanani, and Atif Polani were acquitted by Justice Muhammad Saleem. The FIA had accused the suspects of laundering Rs550 million and transferring them into foreign accounts. The criminal appeal against the suspects was first heard in 2011.
More than 42 witnesses recorded their statements against the FIA, while 58 witnesses didn't appear in court. Eight people were acquitted by the high court on April 3, 2019.
Javed Khanani and Munaf Kalia, the directors of Khanani and Kalia International, were arrested by the FIA in 2008 on charges of money laundering and illegal transfer of money. They were accused of transferring foreign currency from Pakistan and running an illegal 'hawala/hundi' business [a method of...