PESHAWAR: The National Accountability Bureau (NAB) Khyber Pakhtunkhwa is investigating several individuals, including Shehzad Wadood, Akhtar Nawaz Khan, and Adil Khan, in a money laundering case under the Anti-Money Laundering Act (AMLA) 2010.

According to NAB, the case stems from financial intelligence received from the Financial Monitoring Unit (FMU), which reported large-scale foreign currency transactions allegedly carried out by the accused after their release from prison.

NAB said that in 2015-16 it had conducted an inquiry under the National Accountability Ordinance (NAO) 1999 against Adil Khan and Akhtar Nawaz Khan on allegations of cheating members of the public. The investigation led to the filing of a reference titled State vs Adil Khan and Others, involving an amount of Rs169.5 million.

The Accountability Court-IV in Peshawar subsequently convicted Adil Khan and Akhtar Nawaz Khan, sentencing both to two-and-a-half years of rigorous imprisonment and imposing a fine of Rs169.5 million.

According to NAB, information later received from the FMU indicated that the accused were involved in the sale and purchase of large amounts of foreign currency following their release from jail, prompting the initiation of a fresh investigation under anti-money laundering laws.

As part of the ongoing probe, NAB said it has attached four properties after obtaining the required court approval. The bureau stated that further investigation is underway to determine the extent of the alleged money laundering activities and identify any additional assets linked to the case.

NAB said legal proceedings will continue in accordance with the Anti-Money Laundering Act 2010 and other applicable laws.