INSUBCONTINENT EXCLUSIVE:
beneficiaries of a multi-billion rupee money laundering scam.The apex court had on Sunday ordered to place the names of heads of three
private banks on the Exit Control List (ECL) in relation to a fake bank accounts case.The order came as Chief Justice of Pakistan Justice
Mian Saqib Nisar took notice of the slow pace of inquiry into the case and conducted the proceedings on Sunday
The apex court has summoned seven fake bank account holders and 13 beneficiaries on July 12.Former president Asif Ali Zardari and his sister
Faryal Talpur are among those who have been issued notices to appear before the top court on the given date.Meanwhile, Nasir Abdullah,
Ansari Sugar Mills, Omani Polymer Packages, Pak Ethanol Private Limited, Chambar Sugar Mills, Agro Farm Thatta, Zardari Group, Parthenon
Private Limited, AOne International, Lucky International, Logistic Trading, Royal International and Ameer Associate are among the
beneficiaries named in the fake bank accounts case.The IGP Sindh has been directed by the apex court to ensure that all those summoned are
present for the hearing on July 12.During the hearing, Chief Justice of Pakistan Mian Saqib Nisar ordered making a report like the Panama
Joint Investigation Team (JIT) on the matter as soon as possible
The chief justice also barred the chief executive officers (CEOs) of Summit Bank, Sindh Bank and United Bank Limited (UBL) from traveling
abroad in connection with the money laundering case.The chief justice asked the Director General Federal Investigation Agency (FIA) Bashir
Memon to give the court the investigation files
He said over Rs35 billion were funnelled through these accounts at the three banks.Summit Bank Vice-Chairman Hussain Lawai, who is also a
asked Memon, adding that he wanted to know who was behind the whole scam.The DG FIA said all the beneficiaries of the accounts had been
readily provide data against their heads
He informed the court that the chairman of Summit Bank has an account through which Rs2.94 billion were funnelled and he had also been
The chief justice asked how the money was sent to the Zardari group and through whose accounts it was sent
Memon replied that the money was indeed sent from one of the suspected fake accounts
The FIA head informed the court that the accounts were mainly on the names of poor labourers.Justice Ijazul Ahsan remarked that the people
in whose names the accounts were made likely had no idea of their existence
Memon said that Rs35 billion had already been funnelled through the Summit Bank
He said that so far, they had received the records of only one account, adding that the banks are not cooperating with the FIA.
