Police arrests MQM founder Altaf Hussain in London on money laundering charges

Founder of the Muttahida Quami Movement (MQM) Altaf Hussain, who was being investigated for money laundering, has reportedly been taken under police custody in London on charges for the same.

Hussain was reportedly under investigation for money laundering worth at least 4,00,000 pounds as well as for incitement to violence and MQM leader Dr Imran Farooq's murder.

According to The Dawn, immediately after the news of Hussain's arrest went live, the Karachi Stock Exchange (KSE-100 index) fell 780 points and commercial centres across Sindh's provincial capital started shutting down.

Senior MQM leader Farooq Sattar had last week 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.

However, Hussain, who has been living in London for over two decades and is now a British citizen, had not addressed that meeting which was held to condemn money-laundering investigations against him by the UK authorities, the report added.