Fake accounts case: Return money sent abroad through launches, says CJP

ISLAMABAD: Chief Justice of Pakistan (CJP) Mian Saqib Nisar ordered the people to return the money sent abroad through the launches.

The Supreme Court (SC) on Monday gave Joint Investigation Team (JIT), two weeks for furnishing its progress report in the money laundering case of Rs35 billion through fake accounts. A three-member bench of the apex court headed by Chief Justice Mian Saqib Nisar resumed hearing into a suo motu case regarding an investigation into the fake transactions worth billions conducted through several mainstream banks via ‘benami’ accounts.

The court also directed the NAB to produce Abdul Ghani Majeed on the next date of hearing to be held on November 17 at Lahore Registry. Similarly, the court also summoned senior officials of banks that claim to have loaned billions of rupees to Omni Group.

The banks, including the National Bank of Pakistan, Silk Bank Private Limited and others, had filed criminal applications under Section 201(a) of the Financial Institutions (Recovery of Finances) Ordinance, 2001 seeking action against the CEOs/directors of sugar mills — that are allegedly owned by the Omni Group, accusing them of pilferage of the sugar stocks, pledged to them against bank loans acquired by them.

Former president Asif Ali Zardari, his sister Faryal Talpur and others are the respondents in the instant 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 a 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 Joint Investigation Team (JIT).

On September 6, the apex court constituted a six-member JIT to probe a 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, the Anti-Corruption Laws, etc.

Other JIT members are 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 & Exchange Commission of Pakistan, Islamabad; and Brigadier Shahid Parvez of Inter-Services Intelligence (ISI).

On Monday, the court asked Nimer Majeed about bank security to which he expressed ignorance. At this the CJP said as to why he should not be sent to jail. “We did not send you to prison so that you can sort out the matters regarding Omni group bank matters,” the CJP remarked.

The CJP observed that Abdul Ghani Majeed should be sent to Adiala Jail as he was looking after his business on phone adding that the court had repeatedly issued instructions that his phone should be taken.

The CJP asked about JIT progress report to which its head Ahsan Sadiq sought some time to submit the report. Chief Justice Mian Saqib Nisar said that the court had given sufficient time to sort out bank matters. “We know as to where Rs54 billion went”, the CJP said adding they are also aware about the documents of hundi which were kept in pot.

The FIA DG told the court that the JIT was continuing its probe into the matter. Meanwhile, the FIA submitted its report pertaining to the alleged disappearance of sugar from mills owned by the Omni Group.

In its report, the agency stated that the Omni Group owed a total debt of Rs13.5 billion, of which the banks’ losses made up Rs11.5 billion. It was revealed that of the sugar stocks mortgaged against bank loans and 6,692,946 bags of sugar were missing from the mills. It informed the court that the JIT had seized the record of the sugar mills and was examining the details.