Altaf Hussain Arrested in London on Money Laundering Charges

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KARACHI: Muttahida Qaumi Movement (MQM) Altaf Hussain was arrested on Tuesday in London on charges of money laundering.

Hussain was being investigated for money laundering worth at least 400,000 pounds as well as for incitement to violence and MQM leader Dr Imran Farooq’s murder.

The Karachi Stock Exchange (KSE-100 index) fell 780 points immediately after the news came and commercial centres across Sindh’s provincial capital started to shut down.

MQM leader Farogh Naseem however said that Hussain had not been arrested and Scotland Yard only needed him for a statement in relation to a case.

Last week, senior MQM leader Farooq Sattar had disclosed at a public meeting that Hussain’s bank accounts in London were being frozen and had asked party workers and supporters to continue their ‘peaceful struggle’ against the British government.

Hussain, who has been living in London for over two decades and is now a British citizen, did not address that meeting held to condemn money-laundering investigations against him by UK authorities.

In July 2013, the London Metropolitan Police had confirmed that investigations against Hussain had been initiated on charges of money laundering and incitement to violence.

The Metropolitan Police had confirmed that ‘a considerable amount of money’ had been found during raids on Hussain’s residence and office in London.

The reply had said that the cash was found when a counter-terrorism unit of police raided Hussain’s office on Dec 6, 2012 under the Police and Criminal Evidence Act in connection with the investigation of Dr Imran Farooq murder case.

Police had at the time said that the money was seized under the Proceeds of Crime Act.

Source : dawn.com