Pakistani Businessman in London Remanded in Custody Over Money Laundering Charges

LONDON: A businessman of Pakistani descent, implicated in a counter-terrorism investigation concerning alleged money laundering of £37 million, has been held in custody after a judge denied his request for bail.

Hussain Farid Khan, 35, was taken into custody at his residence in Wembley, situated in northwest London. This action was part of an extensive inquiry into the movement of illicit funds both within and beyond the UK, potentially involving Pakistan. During his appearance at Westminster Magistrates’ Court, Farid refuted all accusations leveled against him.

The Pakistani citizen, who resides with his parents and is also recognized as Haji Hussain Farid Khan, formally entered a plea of not guilty to a pair of money laundering charges spanning from 2017 to March 2025.

The Crown Prosecution Service (CPS) stated that “Hussain Farid Khan is accused of two counts related to concealing, disguising, converting, transferring, or removing criminal property.”

Prosecutor Frances McCormack stated, “The accused moved funds among several businesses under his control and across his various business accounts. He concealed the funds’ source, later reintroducing them into the financial system. Farid has not clarified the source of these funds.”

Elisenda Mitchell, representing Farid, commented: “He is a Pakistani citizen with the right to remain in the UK indefinitely since 2004. His life, acquaintances, and family reside in the UK. Farid aims to exonerate himself and contest the allegations through a trial.”

District Judge Michael Snow informed Farid, “The accusations against you allege that you laundered cash or property valued at £37.7 million.” Judge Snow ordered Farid to remain in custody pending a future preliminary hearing. Hussain Farid identifies himself as the CEO of HFK Group of Companies and HFK Global Limited, where he holds a position as an active director. These firms are involved in various commercial activities, notably the trade of gold and diamonds.