Bahria Town Vice CEO Among Three Convicted in FIA Hawala Case
Islamabad court awards one-year imprisonment and Rs500,000 fine to each convict in illegal foreign exchange and hawala case.
ISLAMABAD: In a significant development in Pakistan’s crackdown on illegal foreign exchange and hawala networks, an Islamabad court has convicted three individuals, including Bahria Town Vice Chief Executive Col. Khalil, in a case registered by the Federal Investigation Agency (FIA) under the Foreign Exchange Regulation (FER) Act.
The judgment was announced by Additional Sessions Judge (West) Islamabad, Nasruminallah Baloch, in FIR No. 48/2025, registered by the FIA Commercial Banking Circle (CBC), Islamabad under the Foreign Exchange Regulation Act, 1947.
The convicted individuals are:
Col. Khalil ur Rehman, Vice Chief Executive, Bahria Town
Muhammad Imran, commonly known as Imran Kaka, alleged hawala operator
Muhammad Mushtaq Ahmad, property dealer
According to the court’s warrants of commitment issued on July 9, 2026, each of the three convicts has been sentenced to:
One year simple imprisonment
Fine of Rs500,000
Confiscation of any currency, gold, silver, securities, goods, or other property linked to the offence
The court further ordered that in case of non-payment of the fine, each convict will undergo an additional two months of simple imprisonment. The benefit of Section 382 Cr.P.C. has also been extended to the convicts.
Investigation
According to officials, the case was investigated by the Joint Investigation Team (JET) under the supervision of the Deputy Director, Anti-Money Laundering Cell (AMLC), Islamabad.
The FIR states that the investigation uncovered evidence suggesting large-scale undocumented financial transactions allegedly carried out through hawala and hundi channels in violation of the Foreign Exchange Regulation Act. Investigators also examined banking and financial records, which they said reflected substantial unexplained financial activity inconsistent with the declared financial profiles of the accused.
The investigation further claimed that numerous properties linked to one of the accused were identified during the inquiry and examined as part of the financial investigation.
Officials described the conviction as a major outcome in ongoing efforts to curb illegal foreign exchange transactions, hawala networks, money laundering, and property dealings allegedly financed through undocumented funds.
The case was prosecuted before the Sessions Court, which ultimately convicted all three accused and ordered their imprisonment and fines.
