Law:

Section:

Criminal Procedure Code (V of 1898)---.--- ---.---S. 497(2)---.---Penal Code (XLV of 1860), Ss.409 & 109---.---Foreign Exchange Regulation Act (VII of 1947), Ss.4 & 23---.---Anti-Money Laundering Act (VII of 2010), Ss.3 & 4---.---Criminal breach of trust by public servant, or by banker, merchant or agent, abetment, illegal business of foreign currency, and money laundering---.---Bail, grant of---.---Further inquiry---.---Section 409, P.P.C., was not applicable in the circumstances of the case---.---Punishment provided under S.4 of Anti-money Laundering Act, 2010, though entailed punishment of 10 years, but as per requirement of S.3 of the said Act, prosecution was yet to establish in terms of S.3(a)(b)(c) that it was the proceed of crime---.--- Maximum punishment provided under relevant section of Anti-Money Laundering Act, 2010, was two years---.---Investigating Agency had not investigated the matter on the lines to meet the requirements defining clause of the crime, which made the case of accused as that of further inquiry---.---Accused was admitted to bail, in circumstances. Arshid Hussain Yousafzai for Petitioner. Farhad Ali for the State. Date of hearing: 21st September, 2015. THIS JUDGMENT DELIVERED BY: NISAR HUSSAIN KHAN, JUSTICE:---.------Petitioner Muhammad Usman seeks his release on bail in case FIR No.72/2015, dated 5.9.2015, registered under sections 409/109, P.P.C., 4/23 Foreign Exchange Regulation Act, 1947, 3/4 Anti-money Laundering Act, 2010 of Police Station FIA CBC, District Peshawar. 2. It is the case of prosecution that FIA authorities, on receipt of reliable information about involvement of a person in illegal business of foreign currency, is carrying vehicle bearing No.VY-097 towards Chowk Yadgar, Peshawar. They rushed to the spot where they found the information correct and the person driving the said vehicle was seen coming to Chowk Yadgar, was stopped. He disclosed his name as Muhammad Usman. He was personally searched which resulted into recovery of American Dollars. According to him, the same were purchased by him from Manager of Malik Exchange Peshawar Saddar for handing over to Afsar Ali of Muslim Commercial Bank.…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492