Law: Criminal Procedure Code (V of 1898)

Section: 497

Law: Anti Money Laundering Act, 2010

Section: 3,4

(a) Criminal Procedure Code (V of 1898)--- ----S. 497---Anti-Money Laundering Act (VII of 2010), Ss. 3 & 4---Money laundering---Bail, refusal of---Cheating the public at large---Scope---Prosecution case was that the accused persons were involved in receiving money from general public in fraudulent manner on the pretext of investing the same in stocks through a brokerage firm, but instead of investing in stocks they invested the money of general public into some unknown business, hence, committed cheating, misrepresentation and criminal breach of trust---Accused persons were specifically nominated in the FIR with specific role; there was nothing on record to show that the complainant and Investigating Officer had any ill-will/mala fide with the accused persons to falsely implicate them in the case---Accused persons were operating foreign bank accounts to cheat the general public and to camouflage the ill-gotten funds under the garb of dummy business---Prosecution had sufficient evidence in the shape of documentary evidence against the accused persons---Accused persons were not entitled to the grant of bail---Application was dismissed, in circumstances. Muhammad Sarfraz Ansari v. State and others PLD 2021 SC 738 rel. Asif Ayub's case 2010 SCMR 1735; Khalid Javed Gillani's case PLD 1978 SC 256 and Syed Lakhat-e-Hasnain's case 2010 5CMR 855 ref. 2015 SCMR 1575; 2016 SCMR 447; 2011 SCMR 1614; 2015 5CMR 1575; 2019 5CMR 1730 and PLD 2021 SC 916 distinguished. (b) Anti-Money Laundering Act (VII of 2010)--- ----S. 3---Money laundering---Scope---Money laundering is the process by which large amount of illegally obtained money is given the appearance of having originated from the legitimate source---In simple terms it is the conversion of black money into white money. (c) Criminal trial--- ----Each case has to be decided on its own facts and circumstances and Courts are required to exercise jurisdiction independently. State v. Haji Kabir Khan PLD 2005 SC 364 and Muhammad Faiz alias Bhoora v. The State and another 2015 SCMR 655 ref. ORDER AFTAB AHMED GORAR, J.---Applicants Rizwan Riaz and Imran Khan both sons of Muhammad Riaz seek bail after arrest in case Crime…

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