Published On: Tue, Jun 3rd, 2014

Live updates: Altaf Hussain arrested in London on charges of money laundering

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.

Muttahida Qaumi Movement (MQM) Altaf Hussain arrested Tuesday in London

Also read: The UK news programme that took on MQM

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.

LONDON: Muttahida Qaumi Movement chief Altaf Hussain was arrested in London on the charges of money laundering, sources in MQM said on Tuesday.
The London Police had been investigating Hussain in this case for over several months now.
In a TV interview, Altaf had revealed that all his bank accounts in Britain had been frozen by the authorities. The MQM chief had admitted that the British authorities had conducted raids at his house and at his office.

2:27pm
Scotland Yard has not revealed the identity of the man arrested, Express News reported. According to the their press release, a 60-year-old man has been arrested on charges of money-laundering.
Karachi University examinations have been cancelled for the day.
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2:22pm
Naeem Khanzada, reporting from Nine-Zero, says party members are gathering at the party headquarters for the emergency meeting.
MQM London Secretariat members say they will announce future course of action once the situation is clearer.

 

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