LAHORE – Local judicial magistrate Irfan Basra on Monday sent Abdul Malik (Manager of Moonis Elahi) to jail on judicial remand till January 16. Abdul Malik was arrested by FIA during a raid at Moonis Elahi’s office on the charges of transfer of Rs 20.2 million in the account of Mohsin Habib who is the main accused in National Insurance Corporation (NIC).
Mohsin Habib is son of Habib Ullah Warriach, who remained minister of state during the Mushrraf rule. During this period he embezzled Rs: 1.68 billion with the acting aid of his cousin, they purchased hundreds of acre of government land at throw prices and sold it to National Insurance Corporation (NIC) at ten times higher price. They purchased the land at the rate of Rs 200,000 per acre and after a short while sold it off to National Insurance Corporation (NIC) at Rs 2,200,000c per acre thus inflicting a loss of Rs 1.68 billion to exchequer.
The accused also drew a bank loan of Rs 550 million and after defaulted. As consequence, the FIA froze his bank money worth Rs 1.12 billion and took into custody his property amounting to Rs 100 million. The FIA came into action after the Supreme Court took suo motu on the former minister’s corruption.
remand: An accountability court on Monday extended the judicial remand of Bank of Punjab (BOP) former president Hamaish Khan, Qazikistan former honorary consulate Seith Nisar and Sheikh Muhammad Afzal till January 15.
The accused are involved in BOP fraud case in which Rs 12 billion have been embezzled.
American national Hamaish Khan is the key figure in BOP fraud case that has been charged for issuing Rs 6.20 billion as loan to Sheikh Muhammad Afzal, the owner of Haris Steel Mills and Haider Steel Mills. Seith Nisar is also a beneficiary in this case as he got Rs 930 million illegally as loan. Seith Nisar had paid Rs 400 million to National Accountability Bureau (NAB) during the physical remand while the NAB recovered Rs 50 million rupees in a raid at his farm house near Wahga Border on August 27.
The court has directed NAB authorities to file the reference in court against the accused by the next date of hearing on January 15.
Moonis Elahi’s manager sent on judicial remand
