Karachi: Motiwala’s remand extended
KARACHI: Additional District and Sessions Judge South Asif Ahmed has extended till Wednesday, the remand of remand of MehboodMotiwala, the director of a foreign exchange firm, Al–Sahara Exchange Company. Motiwala is allegedly involved in illegally transferring money abroad, and is in the custody of the FIA since his arrest on December 17. A case (No. 83/08) was registered against him under the Foreign Exchange Regulation Act 1947 at the FIA crime circle branch, following the initiation of an inquiry on the complaint of the State Bank of Pakistan regarding the illegal transfer of money out of the country.
Motiwala had opened four bank accounts — account number 0162-01-000192 in the name of Mohammed Shahid at Bank Al-Falah, Gizri branch; account number 23721-01 in the name of Abdul QadirSajdi at Soneri Bank, main branch, I.I. Chundrigar Road; account number 1620100300 in the name of Mohammed Afzal, owner of Afzal Trading, at Bank Al-Falah; and account number 1003095 in the name of Mohammed Abid, at Bank Al-Falah, Paper Market branch.