Pakistan, July 10 -- A local court on Thursday convicted three men, including a retired officer and a senior Bahria Town official, in a case regarding the illegal transfer of funds abroad for Bahria Town projects.

The court handed down sentences of one year's imprisonment and a fine of Rs500,000 to each of the three convicts.

Additional District and Sessions Judge Nasaruminallah Baloch announced the verdict after hearing the final arguments from both sides.

The three men convicted were Bahria Town Vice Chief Executive Colonel (retd) Khalilur Rehman, hawala operator Imran Kaka, and property dealer Mushtaq Ahmed.

The court found them guilty under the Foreign Exchange Regulation Act of illegally sending money abroad for various Bahria To...