Customs Intelligence Karachi makes unique case of money laundering of Rs 3 bn involving placement, mingling, layering of proceed of crime and its integration in economy of the country.
Additional Director Customs Intelligence Afzaal Wattoo told Mahsool.net that M/s HSJ ICON fraudulently cleared steel bars through Hyderabad Customs Collectorate by evading duties and taxes. The payable duties, taxes and fine amounted to Rs 3.5 billion. An FIR was registered in said formation of Customs, however no recovery could be made till todate.
He said that a credible information was passed on by the DG Customs Intelligence Faiz Chadhar to Director Customs Intelligence, Karachi about use of proceed of crime amounting to Rs 3.5 bn in some construction project in Karachi.
The sources of Customs Intelligence informed that a team lead by Saud Khan Assistant Director and supervised by Additional Director Afzaal Wattoo succeeded in tracing out M/s HSJ Builders which was sister concern of the fraudelent and accused company M/s HSJ ICON. This builder company had used the fraudulently removed steel from Hyderabad Collectorate in construction of a project in Karachi.
Customs Intelligence Karachi has lodged FIR on 27.10.2023 in first of its kind detection of money laundering.
