NAB ordered to confiscate Raja Riaz’s vehicles

LAHORE – An accountability court has ordered the Punjab chapter of the National Accountability Bureau (NAB) to confiscate three vehicles including a BMW and Mercedes owned by Raja Riaz, owner of Raja Centre Main Market Gulberg, who had been declared a proclaimed offender (P/O) by the court.
A reference had been filed against Raja Riaz in the accountability court on charges of financial irregularities in the funds of a co-operative institution. During the hearing, the court declared Raja Riaz an absconder and ordered to confiscate Raja’s properties located at 71-D-1 Gulberg-III and Office No 147-F Raja Centre Main Market Gulberg.
MCB SCAM: An accountability court on Wednesday extended the physical remand of Javed Iqbal and Muhammad Shafi, partners in Khalid Oil Mill Vehari, involved in the embezzlement of Rs 4.691 million, until April 27.
The accused availed themselves of the running finance and cash finance facility from Muslim Commercial Bank (MCB) Vehari branch to the tune of Rs 5.5 million against pledged stock and afterward they misappropriated the pledged stock illegally without paying back the loan.
KANAL MOTORS SCAM: An accountability Court on Wednesday extended the judicial remand of Hafiz Usman Yousaf, Rana Qaisar Nazeer, Mohsin Abbasi and Ahsan Abbasi, directors of Kanal Motors until April 27. The accused being the executives of Kanal Motors offered attractive profit packages on investment in sale and purchase of cars. In this way they colleted millions of rupees from the public and embezzled it. The court while extending the remand directed NAB to file a reference against them.
LHC orders inspection of unusual bail: The Lahore High Court (LHC) ordered a member inspection team (MIT) on Wednesday to hold an inquiry against Daska’s judicial magistrate Sheikh Suleman Elahi who had granted bail to a lawyer involved in a fraud case, in an unusual manner. Chief Justice Ijaz Ahmad Chaudhry directed the MIT to look into the six-month judicial orders passed by the judicial magistrate and furnish a report to the LHC administration committee within one week.
The court passed the orders on a petition moved by FIR complainant Tahir Mahmood for cancellation of the bail granted to lawyer Faisal Mahmood Cheema. The petitioner through his counsel pleaded that he had lodged an FIR against Faisal upon which the police arrested him. He pointed out that the police produced him before judicial magistrate Suleman and sought his physical remand but the judge instead of granting his physical remand issued notice to the state on his bail petition and eventually ordered his release on bail on the same day.
He argued that the magistrate did not follow the laid down principles of law and acted in gross violation of law. He also alleged that the magistrate had done so under some peculiar circumstances.