Skip to main content

Banking court grants interim bail to Zardari in money laundering case

A banking court in Karachi on Friday granted an interim bail to former president Asif Ali Zardari in a money laundering case.

Zardari had obtained a protective bail from the Islamabad High Court (IHC) in the case on August 18. The high court had directed the former president to appear before the trial court by Sep 3.

The former president, along with his lawyer Farooq H. Naik, appeared before the court today and obtained an interim bail with a surety of Rs2 million.

When asked by a reporter to comment on the "day by day worsening situation" for him, the PPP co-chairperson laughed off the question.

The case was initially registered in 2015 against former Pakistan Stock Exchange chairman Hussain Lawai, who is widely believed to be close to former president Asif Ali Zardari.

Later, seven individuals, including Zardari and Talpur, were said to have been found involved in using those accounts for suspicious transactions which totalled Rs35 billion. The accounts were allegedly used to channel funds received through kickbacks.

Last month, Lawai and banker Taha Raza were detained and booked for allegedly facilitating the opening of 29 ‘fake’ accounts through which suspicious transactions were made to different companies, including M/s Zardari Group.

Zardari's sister Faryal Talpur had also obtained an interim pre-arrest bail in the case in the sum of Rs2 million.

Both the siblings are facing corruption charges relating to fake accounts and fictitious bank transactions worth Rs35 billion. Both Zardari and Talpur face allegations that they had illegally channelled funds through the said accounts in connivance with the chief executive officers of major banks.

A few days ago, the siblings had also appeared before a joint investigation team of the Federal Investigation Agency (FIA) in Islamabad to record their statement in the multi-billion rupee money laundering and fake bank accounts case open against them.



from The Dawn News - Home https://ift.tt/2PQAHzv
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

IT ministry forms panel to review social media rules

ISLAMABAD: While uproar against the new rules to regulate social media continues from various segments of society, including parliamentarians, the Pakistan Federal Union of Journalists (PFUJ) and civil society, the information technology ministry on Friday formed a committee to review the rules. The federal cabinet approved the rules on Feb 11, but later after opposition from various quarters, including companies that manage different social media platforms, the prime minister announced that a fresh consultation process would be launched over the Citizens Protection (Against Online Harm) Rules 2020. The committee formed by the IT ministry is headed by Pakistan Telecommunication Authority Chairman Amir Azeem Bajwa while its members are Eazaz Aslam Dar, additional secretary of IT; Tania Aidrus, member of the Strategic Reforms Imple­mentation Unit, Prime Minister Office; and Dr Arslan Khalid, focal person on digital media at the PM Office. Federal Minister for Human Rights Dr Shireen Ma
Post a Comment
Read more

Young girl’s tragic story makes her symbol of Yemen war

Buthaina Mansur al-Rimi’s life has changed drastically since last year — orphaned in Sanaa, the little girl controversially ended up in Saudi Arabia for medical care and has just returned to Yemen’s capital. Her entire immediate family was wiped out in an air strike by a Saudi-led coalition that backs Yemen’s government, using an explosive device Amnesty International says was made in the US. Images of Buthaina’s rescue and a picture of her swollen and bruised at a hospital trying to force open one of her eyes with her fingers were beamed worldwide. That international fame saw her become something of a propaganda pawn in the war between Yemen’s Iran-backed Huthi rebels and Saudi media. “I was in my mother’s room with my father, sisters, brother and uncle, the first missile hit, and my father went to get us sugar to get over the shock, but then the second missile hit, and then the third,” she says. “And then the house fell,” adds the little girl, who says she is eight. It was the
Post a Comment
Read more