Fake accounts scam: Omni Group CFO makes startling revelations in his statement

ISLAMABAD: The man at the centre of the fake accounts scam probe has dropped a bombshell by admitting that he has masterminded the country’s biggest financial crime.

Aslam Masood, chief financial officer (CFO) of Omni Group, in his confessional statement disclosed that he was operating on behalf of Majeed family which is now in focus of the Joint Investigation Team (JIT) probe for allegedly having a shady business of over Rs220 billion with dozens of business groups.

“I looked after all administrative/financial aspects (of Omni Group). It will not be wrong to say that from peon to director, I had all the responsibilities,” responded Aslam Masood when investigators asked him about his responsibilities/job description in Omni Group Pakistan.

“Equity rotation, sugar/alcohol sale money rotation, plots payments rotation, ‘bhatta’ (extortion) money, etc,” added Aslam Masood in response to a question pertaining to the purpose of opening and operating fake/benami accounts to run the shady business. The fake accounts JIT headed by Ehsan Sadiq dispatched a questionnaire for the accused Aslam Masood to Interpol in Saudi Arabia earlier this month. Aslam Masood was arrested by International Police in Jeddah on Oct 23 after Pakistan filed a request in September this year.

“Aslam Masood is hospitalised in Jeddah now a days. Pakistan has filed official request with Interpol for his repatriation as the accused is wanted to investigators probing fake accounts scam,” confirmed a senior official of the Federal Investigation Agency (FIA) to this correspondent. It is not clear yet when he would be handed over to Pakistan by Interpol as he is also a British national but his statement would prove a bombshell, claimed the official.

However, when a reliable PPP official was contacted, he said that the party has already declared the JIT report as concocted and based on assumption. He said that an individual sitting in Saudi Arabia has allegedly issued this statement, and that it has no legal value. He said that when the trial will begin in the court of law and he will record his statement there then everything will become clear. He said the things being revealed to the media are just hearsay.

In his confessional statement, Aslam Masood told investigators that he started working directly under Khawaja Anwar Majeed in 1992. Before that he worked with Allied Tractors, which was not under Anwar Majeed. Omni Group emerged in 1995-96 and before joining Majeeds, he started his career with Ashraf Group of Companies in 1978 in Lahore. He confessed that he was working as Director Orient Automotive, CEO Lar Sugar Mill, Director and 50 percent shareholder at Rubicon Developers and Rising Star (Thatta Sugar Mills shares). He also confessed that he was signatory of Orient Automotive, Rubicon Developers, Omni Polymer Packages, Nodero Sugar Mills, Agro Farms Thatta and Southern Agro Farms. He also admitted before investigators that he on directions of Anwar Majeed issued cheques of the said companies and/or signed the same by opening fake accounts from 2012-2015. He confessed that cheques aggregated to Rs17 million of Agro Farms Thatta (Pvt) Ltd and other companies to hide the equity. He admitted that he was known to Hussain Lawai, Chairman Summit Bank, as his company has business relationship with Majeeds. Aslam Masood also admitted that he was known to Zain Malik, son-in-law of Malik Riaz Hussain, after the latter used to give the name of company on whose name the cheques were to be made.

In his confessional statement, Aslam Masood also admitted that Nadeem Iqbal was administrative manager, however, he was expelled by CEO Khawaja Salman Younis in 2014/15. Zeeshan Warsi is now in charge of Sugar Division/Finance, he further said. The CFO further revealed that Nadeem Iqbal was made Director of M/s Sky Pak holding Pvt Ltd on instructions by Salman Younis and AG Majeed.

About forming of company namely M/s Rising Star Pvt Ltd, he told the JIT that it was formed by showing Muhammad Arif Khan, adding that the said company was formed on directions of Khawaja Salman Younis and AG Majeed. About other companies, Aslam Masood revealed that Diamond Builders requested Summit Bank for release of various payments in the name of A-One International, Lucky International, Iqbal Metals, Gateway Iron Steel, Dream Trading and Ocean Enterprises. He revealed that Regent Services Pvt Ltd has corresponded and instructed Summit Bank regarding release of payments for construction of G-2 building. When asked does he know Syed Faisal Hussain Shah and Shabnum Bhutto, Aslam Masood in his statement said, “G-2 Plot was registered on the name of Shabnam Bhutto/Sanam Bhutto. Later, it was transferred in the name of Syed Faisal Hussain Shah, then transferred on the name of Mustafa Majeed and subsequently to Summit Bank.”

To another question, Aslam Masood responded that there is some company in the name of Muhammad Ashraf who is the man of Younis Qidwai. Ashraf signs the forms and gives them to Younis Qidwai, he said. When the JIT asked why he has provided two cheques for Rs9,000,000 each of joint accounts of Zain Malik/Mushtaq Ahmed to Muhammad Ashraf for encashment, he said, “Arif used to do this job of cheques, however no cheque can be given by him to Ashraf as Ashraf did not work in our company.”

On Mohsin Sheikhani, Aslam Masood revealed that he never met him but Younis Qidwai knows him well. When asked about Muhammad Arif Khan and Muhammad Umair, he said, “Umair is a low level employee. A company has been registered on his name. He works with Younis Qidwai. He is presently in Dubai. He deals in payment of cheques/banks. Having serious domestic issues, he has committed four suicide attempts so far.”

When the JIT asked who opened and operated the fake/benami account in the name of Muhammad Umair/Umair Associates at Summit Bank and Sindh Bank, the Omni Group CFO revealed that Arif opened the account with the permission of Younis Qidwai.

“I was the custodian of the cheque books of all the bank accounts of Umair Associates. Bilal Sheikh, Jameel Memon and Haneef Memon were front persons in all this process,” he said.

When the JIT asked who issued the cheques of the said fake/benami bank accounts, he responded, “AG Majeed used to ask me and I in turn used to ask Arif for the cheques of said fake/benami bank accounts. Initially, these used to be signed by the individuals on whose names these were opened, however, finding it difficult, subsequently Arif started signing it. Fake/benami accounts were not opened on my instructions but on orders from AG Majeed, however, I used to supervise them,” he said.

When asked did he supervise and operationalise fake/benami accounts on his own or on behalf of/on the instructions of someone else, he said, “On instructions of AG Majeed, I used to operate and supervise these accounts. On direction of AG Majeed, I signed the said sale agreement as witness,” he said.

On his businesses, Aslam Masood told the JIT, “Yes, I own Ali and Sons Company and an apartment in Dubai. Besides, I deal in sugar imports/exports.”