ISLAMABAD: An Additional Sessions court on Thursday sentenced Bahria Town Vice Chief Executive Colonel Khalil-ur-Rehman (retd) and two co-accused to one year in prison each in a case involving undocumented financial transactions conducted through illegal hawala/ hundi channels, in violation of the Foreign Exchange Regulation Act, 1947.
Additional Sessions Judge (West) Nasruminallah Baloch convicted Colonel Khalil-ur-Rehman (retd), hawala/hundi operator Muhammad Imran, and real estate dealer Mushtaq Ahmad. The court also imposed a fine of Rs50,000 on each convict in the case registered by the Federal Investigation Agency (FIA) under the Foreign Exchange Regulation Act, 1947.
According to separate letters written by the court to the Adiala Superintendent, accused Khalil-ur-Rehman, Mushtaq Ahmad, and Imran were duly convicted by the court in case FIR No. 48/2025 dated July 9, 2025, at FIA police station CBC, u/s 23 of the Foreign Exchange Regulation Act 1947, and sentenced for one year.
It says that in default of payment of the fine, they shall further undergo simple imprisonment for two months. This is to authorize and require you, the said Superintendent, to receive the said convict into your custody in the said Jail, together with this warrant, and to keep them there safely until you shall receive the further warrant or order of this court carrying into effect the order of the said court.
According to the FIR, upon completion of an enquiry against the accused, it transpired that the accused had been facilitating large-scale, undocumented financial transactions through hawala/ hundi channels, in violation of the provisions of the Foreign Exchange Regulation Act.
Copyright Business Recorder, 2026
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