RIZWAN RIAZ vs State S — 2023 PCrLJ 1704 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2023 PCrLJ 1704 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2023
Reporter: PCRLJ
Parties: RIZWAN RIAZ vs State S
Subject matter: Criminal
Provisions referred to: S. 497---

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

RIZWAN RIAZ VS State S. 497---anti-Money Laundering act (VII of 2010), Ss. 3 & 4---Money laundering---Bail, refusal of---Cheating the public at large---Scope---Prosecution case was that the accused persons were involved in receiving money from general public in fraudulent manner on the pretext of investing the same in stocks through a brokerage firm, but instead of investing in stocks they invested the money of general public into some unknown business, hence, committed cheating, misrepresentation and criminal breach of trust---accused persons were specifically nominated in the FIR with specific role; there was nothing on record to show that the complainant and Investigating Officer had any ill-will/mala fide with the accused persons to falsely implicate them in the case---accused persons were operating foreign bank accounts to cheat the general public and to camouflage the ill-gotten funds under the garb of dummy business---Prosecution had sufficient evidence in the shape of documentary evidence against the accused persons---accused persons were not entitled to the grant of bail---application was dismissed, in circumstances.

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