Over Rs100 bn transacted through fake accounts

ISLAMABAD: The Joint Investigation Team (JIT) on Monday told the Supreme Court hearing the fake accounts case that so far transactions of over Rs100 billon has been made, including Rs47 billion from general accounts and Rs54 billion from accounts of companies, while 600 people connected with the transactions have been unearthed.

The JIT also complained about the unsatisfactory cooperation of the Sindh government regarding the probe being made into the case, saying that it was not providing the required record.

A three-member bench of the apex court headed by Chief Justice Mian Saqib Nisar and comprising Justice Umer Ata Bandyal and Justice Ijazul Ahsen heard the case. Ahsan Sadiq, head of the JIT, submitted a progress report under a sealed cover and disclosed that there were 36 benami companies through which transactions of some Rs91 billion have been made.

The chief justice asked whether the JIT will reach to the bottom of the matter and whether the government of Sindh is cooperating with the investigation team. Ahsan Sadiq said they will unearth the truth, however, unfortunately, the Sindh government was not extending cooperation.

The chief justice asked the JIT head to name those who are not cooperating, to which he replied that provincial chief secretary, secretary irrigation as well as secretary agriculture and finance were asked to provide the relevant record, but so far they did not provide it.

Justice Saqib Nisar said if this is the situation then they could call the officials. Advocate General Sindh rejected the claim made by the head of the JIT, saying that JIT was asking for details of each contract since 2008 and has identified 46 companies and individuals who had a contract with the Sindh government. The law officer sought time for providing the required information.

The chief justice asked the law officer to come to Karachi on October 26 and provide the relevant record. The court also summoned all relevant secretaries of the provincial government, including secretary finance, chief secretary, energy secretary and the secretary of the Irrigation Department, on the said date.

The counsel representing Omni Group appeared before the court and told the chief justice that Anwar Majeed needed to be hospitalised as he faces cardiac problems and was fitted with a stent back in 1999.

Justice Saqib Nisar observed that if Anwar Majeed faces health problems then he should be admitted to Rawalpindi Institute of Cardiology and the court will ensure he receives excellent medical care.

Former president Asif Ali Zardari, his sister Frayal Talpur and others are respondents in the matter being investigated by the FIA for using fake accounts and their alleged involvement in fraudulent bank transactions to the tune of Rs35 billion.

The Federal Investigation Agency (FIA) that has been investigating the 2015 case pertaining to fake accounts and fictitious transactions conducted through 29 benami accounts in Summit Bank, Sindh Bank and United Bank Limited (UBL) on last hearing had recommended to the apex court to constitute a JIT.

On September 6, the apex court had constituted a six-member JIT to probe the money laundering and fake accounts case. Headed by Ahsan Sadiq, Additional Director General (Economic Crime Wing) FIA Headquarters, Islamabad, the JIT had been given all powers relating to inquiries and investigations including those available in the Code of Criminal Procedure, 1908, National Accountability Ordinance, 1999, Federal Investigation Agency Act, 1974 and the anti-corruption laws, etc.

Other members of the JIT include Imran Latif Minhas, Commissioner-IR (Corporate Zone), Regional Tax Office, Islamabad, Majid Hussain, Joint Director BID-I, State Bank of Pakistan, Islamabad, Noman Aslam, Director, National Accountability Bureau, Islamabad, Muhammad Afzal, Director, Specialised Companies Division, Securities and Exchange Commission of Pakistan, Islamabad, and Brigadier Shahid Parvez of Inter-Services Intelligence (ISI).

The court had held that all executive authorities or agencies in the country are required to render assistance and provide support to the JIT in its working, if required. The court had directed that the JIT will submit periodic reports before the court qua the progress made in the investigation on fortnightly basis under sealed cover for their examination.