ISLAMABAD: A local court convicted Bahria Town Vice Chief Executive retired Colonel Khalil ur Rehman, a currency trader, and a property dealer in a Rs 1.7 billion hawala and hundi case. The court found them guilty under the Foreign Exchange Regulation Act (FERA).
Consequently, the court sentenced each convict to one year of simple imprisonment. It also imposed a fine of Rs500,000 on every convicted person.
The convicted individuals include retired Colonel Khalil ur Rehman, alleged hawala agent Muhammad Imran, also known as Imran Kaka, and property dealer Muhammad Mushtaq Ahmed. The verdict followed a trial based on evidence presented by the prosecution.
Investigation and Court Findings
The case originated from FIR No. 48/25, which the FIA Corporate Crime Circle Islamabad registered on July 9, 2025. Authorities filed charges under Sections 4, 5, 8, 9, and 23 of the Foreign Exchange Regulation Act. Investigators alleged that the accused transferred nearly Rs1.7 billion abroad through hawala and hundi networks instead of authorised banking channels.
According to investigators, the money supported payments for Bahria Town projects. However, the transfers allegedly bypassed Pakistan’s regulated foreign exchange system. They also lacked the required approval from the State Bank of Pakistan.
During the proceedings, prosecutors argued that the accused deliberately violated foreign exchange laws by using informal money transfer networks. After reviewing the evidence, the court concluded that the prosecution had proved the charges beyond the legal standard required for conviction. Therefore, it awarded the prescribed punishments under the Foreign Exchange Regulation Act.
