Pakistani Fined K500,000 for Attempting to Externalize Forex

The Mkukula Senior Resident Magistrate Court in Dowa district on Monday convicted and fined businessman, Feroz Dawood Tahil, K500, 000  for attempting to externalize forex.

Tahil, a Limbe-based businessman of Pakistan origin, was arrested on 23 December 2019, at Kamuzu International Airport in Lilongwe.

The court, through State Prosecutor, Sub Inspector Jambo, heard that on the said day, Tahil was about to board Ethiopian Airlines on his way to Pakistan.

On being serached, he was found with $4, 922 but did not have supporting documents.

Tahil was charged on two counts; attempting to transfer foreign currency out of Malawi, contrary to Regulation 11 (1) of the Exchange Control Regulations, and being found in possession of foreign currency,  contrary to Regulation 25 (1) of the Exchange Control Regulations.

The Pakistani pleaded guilty to both charges.

Senior Resident Magistrate, Cecilia Onsewa, then convicted and fined him MK500, 000 or in default go to jail for 24 months.

She further ordered the money be forfeited and be deposited with government.

Tahil, aged 53, paid the fine.

Read 384 times
Login to post comments

NEWS IN BRIEF

NFRA Silos Fast Running Dry

The Budget and Finance committee of Parliament visited the National…
Read more...

Magistrate Sends Villagehead to Jail for Indecent Assault of Minor

A magistrate court in Kasungu has ordered that a village…
Read more...

EU Envoy to Malawi Paesen Back in Office

Embattled EU ambassador to Malawi Sandra Paesen who was initially…
Read more...

Man Arrested in Phalombe for Alleged Murder

A man aged 31, Dyton Malinga, has been arrested in…
Read more...

Mpinganjira Free: Zomba Magistrate Quashes ACB Arrest Warrant

Lawyers for FDH Group boss Dr. Thomson Mpinganjira traveled to…
Read more...
Go to top
JSN Time 2 is designed by JoomlaShine.com | powered by JSN Sun Framework