The judicial court (South) in Karachi on Saturday remanded Hussain Lawai in custody of the Federal Investigation Agency in a money laundering probe till July 11.
Lawai was detained by the FIA on Friday regarding charged illegal transactions worth billions of rupees. FIA is conducting investigations into potential laundering of Rs35 billion.
The Judicial Magistrate court (South) granted the physical remand of Lawai and another suspect Taha Raza, both of whom were brought to the court, prior today.
Speaking to reporters Lawai denied any involvement and asserted that he had no connection whatsoever with money-laundering. Moreover, that “Time will tell why I’m being targetted, whether the money-laundering happened or not.”
Hussain Lawai, a prominent name in Pakistan’s banking corporations, and holds extensive experience in financial services and banking sector was held in connection with money laundering probe initiated by the FIA.