LAHORE: A local judicial magistrate on Monday handed over ex-Minister of the State for Defense Habib Ullah Warriach to Federal Investigation Agency (FIA) on physical remand til November 5.
Earlier FIA authorities produced the accused before magistrate to seek a 15 day physical remand to continue the investigation. The magistrate however extended the remand by four days.
Federal Investigation Agency (FIA) had arrested Ex-Minister of State for Defense Major (retd.) Habib Ullah Warriach on Sunday from his residence over corruption charges. FIA also froze his bank account and seized his property.
Warraich, a minister of state during the Musharraf rule, has been charged for corruption worth Rs 1.68 billion. He is accused to have purchased hundreds of acres of government land at low prices and sold it to National Insurance Corporation (NIC) at a rate ten times higher.
The FIA action came after the Supreme Court took a suo motu at the former minister’s alleged corruption. According to the charges, the accused purchased state land at Rs 200,000 per acre and sold it to NIC at Rs 2,200,000 per acre. This venture inflicting a loss of Rs 1.68 billion to exchequer.
Habibullah is also accused of defaulting on a bank loan of Rs 550 million. The FIA has frozen his bank account reportedly worth Rs 1.12 billion and taken into custody property worth Rs 100 million. The FIA is also attempting to arrest his arrest his son Mohsin Habib Warriach who left the country during the investigation process. Interpol has issued a red warrant for the arrest and extradition of Habib Ullah warriach.
FIA sources said that Ex-Minister of state for defense Habib Ullah Warriach was arrested to recover the money of the government. Sources said that during four days trial investigating officer of FIA including Basharat Shahzadm Baber Shah and Muhammad Ahmed will try to recover as much money as possible. Sources said that FIA investigators will also ensure to recover money from different accounts of Habib Ullah Warriach functioning in different banks of foreign countries. FIA Spokesman Mr. Haroon said that though FIA official will try to arrest the remaining nominated accused of the case as soon as possible but their arrest does not matter much. He said that the son of Habib Ullah Warriach is in Dubai. He said that in order to arrest him, FIA will contact Interpol soon.
