SC denies Rs6b money laundering accused bail

The Supreme Court on Monday rejected the bail plea of accused Naresh Kumar allegedly involved in Rs 6 billion money laundering.

A three-member bench of the apex court headed by Chief Justice Gulzar Ahmed and comprising Justice Ijaz Ul Ahsan and Justice Mazhar Alam Khan Miankhel heard the case and directed the accused to approach the trial court with complete documents. Earlier, the trial court and the high court had rejected the accused's bail.

During the course of proceedings, Justice Ijaz Ul Ahsan asked what was the business of Naresh Kumar if such a huge bank transactions were going on?

Syed Qalb-i-Hassan counsel for the accused said that his client was involved in rice business. Justice Ijaz said that it was a transaction of more than Rs 6 billion but there was no record of purchase. The counsel said that Naresh Kumar has been doing the rice business since 2012 and taking his commission.

Justice Ijaz asked the counsel if so, why did not Naresh Kumar has the purchase and sale documents? The counsel said that the Federal Investigation Agency (FIA) took action against the money which his client had received for the purchase of rice during 2012 to 2020.

Justice Ijaz said that he had heard that these were all fake accounts. Addressing the counsel Justice Ijaz said this was how electronic crimes happen. He asked what was the status of the trial as the court had given three months time.

Asghar Ali Deputy Attorney General said that the charge was not framed, it was just about to happen in a couple of days. The Chief Justice observed that all transactions were done from the same account.

The counsel said that the entire rice business in Sindh was run by the Hindu community. The Chief Justice asked the counsel to show a single document which mentions Naresh Kumar was involved in rice business.