Khurram Rasool seeks post arrest bail

ISLAMABAD: A division bench of the Islamabad High Court (IHC) comprising Justice Shaukat Aziz Siddiqui and Justice Athar Minallah here Monday directed ex media adviser to the former Prime Minister Yusuf Raza Gillani, Mian Khurram Rasool to submit schedule of payment within fortnight in a three years old fraud case.
Mian Khurram Rasool is seeking post arrest bail as he is arrested and behind bars for the last three-year after NAB arrested him in 2012.
As per NAB corruption reference filed in August 2012, Khurram Rasool a proprietor of the True Concept Partnership Pakistan, and Paramount Rainbow Company, is accused of cheating public at large inviting them to invest in the two companies by creating a false impression that they were doing business of sugar and scrap with the Trading Corporation of Pakistan (TCP) and Pak-Arab Refinery Company (Parco).
As per NAB investigation his brother Shahid Mehmood cheated people and collected Rs380 million from them had assisted the accused. Shahid Mehmood is also arrested in this matter.
As per NAB reference, the accused opened bank accounts of his companies with the acronyms TCP and Parco. He maintained the accounts of True Concept Partnership, Pakistan, and Paramount Rainbow Company with the Askari Bank’s Jinnah Avenue branch in Islamabad and one of Paramount Rainbow Company with the Bank of Punjab’s Satellite Town branch in Rawalpindi.
NAB had arrested Khurram Rasool and Shahid Mehmood in on April 13, 2012. Federal Investigation Agency had arrested him in January 2013 for another alleged fraud where Khurram Rasool is accused of defrauding a businessman of millions of rupees for an LPG contract that never transpired. As per Khurram Rasool’s counsel Amjad Iqbal Qureshi advocate, the matter pertains to committing an alleged fraud with a person that was in fact a business transaction. The complainant has been claiming an exaggerated amount while the actual amount is less, which his client is ready to pay. Further hearing of this case will be held after IHC registrar fixes the matter.