Money-laundering: MQM chief Altaf Hussain arrested in London
Scotland Yard arrested Altaf Hussain in London.
LONDON (Web Desk) – Muttahida Qaumi Movement (MQM) chief Altaf Hussain has been arrested in connection with the money-laundering case, Dunya News reported on Tuesday.
Metropolitan Police of London had started money laundering probe against Altaf Hussain after they recovered some money from his house, whose source could not be ascertained
During the investigation of Imran Farooq murder case the Scotland Yard had found 0.4 million pound sterling from Altaf Husaain s house following which it spread its scope of investigation.
According to Wikipedia, in UK the principal money laundering offences carry a maximum penalty of 14 years imprisonment under Section 334, Proceeds of Crime Act 2002.
Following, the arrest of Altaf Hussain, negative impact was witnessed on Karachi Stock Exchange as the KSE-100 index dropped by 900 points. Later, KSE gained back 562 points to close at 29,565 points.
Muttahida Qaumi Movement leaders have started arriving at Nine Zero. According to MQM leader Khwaja Izharul Hassan, the Coordination Committee has called for an emergency meeting to review the situation. MQM Coordination Committee will hold a press conference at 3:00pm today.
Chaos gripped the port city soon after local television broadcast the reports, as people left their workplaces and rushed to stock up on groceries in an anticipation of a prolonged shutdown.
Karachi police beefed up the security at the diplomatic enclave in the upmarket area of Clifton, with a special focus on the British mission there.
"We have tightened the security of the consulates, especially of the British," city police chief Ghulam Qadir Thebo said.
Hussain s residence in London was raided on suspicion of money laundering in 2012 and 2013 by British police.
