A 38 year-old  businessman of Indian origin who was arrested at Kamuzu International Airport (KIA) for attempting to externalize foreign currency amounting to about K504 million has pleaded not guilty.

Indian businessman Iqbal Mohmad pleas not guiltymoney laund

Police officers at KIA arrested  Iqbar Sodagar Moinuddian Mohmad after being found in possession of US$622,820, 2,015 British Pounds and 15,860 Euros.

Mohmad was arrested at the departures Lounge before boarding an Aircraft to Dubai through Ethiopian Airways.

But when he appeared before court on Wednesday, Mohmed denied all charged related pressed on him on possession of proceeds of a crime.

“I plead not guilty to the charge,” said Mohmed when he was told to make a plea.

Mohmad has been slapped with three counts of illegal possession of foreign currency , attempting to externalise forex and money laundering.

His lawyer Ishamel Wadi applied for bail. The court is yet to rule and  the suspect remains on remand at Maula Prison.

Mohmad was born in 1979 at a place called Maharashtra in Mumbai,India. He holds an Indian Passport number Z3216835 but has stayed in Lilongwe Area 2, for nearly 20 years.

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