ISLAMABAD – An Islamabad accountability court has handed down a significant verdict in one of Pakistan’s most high-profile money laundering cases, sentencing Lt Col (retd) Khalil ur Rehman, Chief Operating Officer of Bahria Town, to 10 years of rigorous imprisonment. The court found him guilty of laundering nearly Rs1.7 billion through illegal financial channels.
The case revolves around the transfer of large sums of money via hawala and hundi networks, methods widely regarded as illicit under Pakistani law. These practices circumvent formal banking systems, enabling the concealment of illicit wealth.
Judge Nasrullah Minallah of the accountability court ruled that such activities undermine the integrity of Pakistan’s financial system and weaken state institutions. The court also imposed a fine of Rs25 million and ordered the confiscation of assets deemed to have been acquired through unlawful means.
According to detailed evidence presented during the trial, funds linked with Bahria Town were allegedly transferred overseas through informal money transfer channels over several years. These transactions included amounts reaching approximately Rs1.7 billion. Investigation revealed that these operations date back as far as 2007 and occurred across multiple FIRs registered by the Federal Investigation Agency (FIA).
The trial concluded within a mere six months, despite repeated attempts to delay proceedings by some of those implicated in the case. These individuals, including property tycoon Malik Riaz and Ali Riaz, were declared proclaimed offenders.
During the judicial process, these entities failed to appear before the court, leading officials to emphasize that legal actions against them will continue according to due course. The verdict marks a milestone as the first money laundering trial conducted by Islamabad Circle of FIA to reach a final judicial decision.