Money-laundering, theft case: Rice mills partner remanded – 19 Nov 2022

LAHORE: A Magisterial Court of Judicial Magistrate Ghulam Murtaza Virk on Friday granted a four-day physical remand to a managing partner of a rice mills.

The accused Muhammad Deen was arrested over the charges of money laundering and theft of mortgaged stock in the bank. The court has directed authorities concerned to produce the accused again by Nov 22. The Court also ordered to send a copy of the remand order of the accused to the Sessions Judge Lahore. As per details, it has been alleged that the investigating officer traced the sacks of stolen rice from accused.

The case was filed by a private bank on charges of fraud and money-laundering. The accused took a loan from the bank and mortgaged sacks of rice and later stole the stock, the bank stated. The accused stole the stock and sold it and used the money for money laundering, the bank alleged.

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