Allegations against NBP chief contradict NAB’s own report

ISLAMABAD: The NAB forensic report submitted to the accountability court in assets case against former finance minister Ishaq Dar has proved that the signatures of President National Bank of Pakistan (NBP) Saeed Ahmed had been forged.

Official documents available with The News reveal that the NAB’s allegations contradict its own forensic report that says the signatures of applicant do not tally and forged signature have been used to open these bank accounts.

The forensic examination of bank account opening documents was conducted by the NAB Deputy Director Muhammad Naseem and submitted to the NAB HQ on December 29, 2017.

A brief analysis of assets reference, the JIT report, Supreme Court’s order in Panama case and the statements of the accused and facts of the NAB’s own investigation report reveals that the NAB had ignored very basic realities in the supplementary reference.

NAB Special Prosecutor Imran Shafeeq contended that since the nominated co-accused had long association with the main accused Ishaq Dar and because they were working along with him in Hajveri Modaraba Management (Pvt) Ltd Company and as bank accounts were open in their names, thus they might have assisted and abetted the accused in mounting illegal assets.

In support of their allegations against Saeed Ahmad, Imran said he was one of directors along with the main accused in Hajveri Modaraba Management and had long association with him. It further alleged that seven bank accounts were opened in the name of Saeed Ahmad in the years 1997, 1998 and 1999 which were closed in 1999, 2000 and 2002 respectively.

It was claimed that an amount of Rs482, 848,648 and $4,060,985 was transferred through these bank accounts to the advantage of Ishaq Dar and his dependents.

On the contrary, Saeed Ahmad was of view that the investigator ignored the fact that as per record available with the Securities and Exchange Commission of Pakistan (SECP), Saeed Ahmad was appointed as Director in Hajveri Modaraba Management (Pvt) Ltd Company on July 10, 1991. He resigned on September 12, 1991.

The SECP record further tells that he was reappointed as director in place of Masood Akhtar on February 2, 1992 and served as director till June 5, 1995. Over his retirement from the directorship, he transferred his 90,000 shares to Hajveri Holdings.

It needs to be observed that the alleged fake accounts were opened in 1997 and 1998, at least two years after his end of directorship when Saeed was living abroad and was having no say or influence in the company as director. Also, the NAB’s allegations are in contradiction with its own forensic report that says that signatures of applicant do not tally and forged signatures were used to open these bank accounts.

The forensic examination of bank account opening documents was conducted by NAB’s Deputy Director, Muhammad Naseem and submitted to NAB HQ on December 29, 2017. Thus, it is obvious that the offence was made by the person who forged the documents and apply fake signatures.

The NAB prosecutor pointed out that these bank accounts were operated by a number of employees of Hajveri Modarba Management Company, including the co-accused Mansoor Rizvi and Naeem Mehmood. He also admitted that these bank accounts were never operated by Saeed Ahmad. The additional reference alleged that the co-accused Naeem Mehmood, one of the Director and General Manager, Finance in Hajveri Modaraba facilitated the opening of these fake accounts and was also an introducer for one such bank account.