The Supreme Court was informed on Wednesday that the people involved in National Insurance Company Limited (NICL) scam had deposited all the money they took in various bank accounts and Rs 41 million of the embezzled amount was deposited in a bank account of PPP’s Minister for Commerce Makhdoom Amin Faheem.
A three-member Supreme Court bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Tariq Parvez and Justice Amir Hani Muslim was conducting hearing in the NICL scam.
The court directed for dealing with all culprits with an iron fist and to ensure the recovery of the plundered money.
The court also directed the FIA to register cases against all those involved in the NICL scam and take stern measures against all the absconders who had fled the country.
“It was public money and should be brought back to the public exchequer. Everyone should play his role to curb corruption,” the chief justice said.
He appreciated FIA Karachi Director Moazzam Jah for his progress in the NICL case, directing him to submit all investigation reports within three days.
Jah told the court that while buying land, one dealer, Muhammad Iqbal, got Rs 300 million and Hashwani Group was given Rs 100 million as loan, which was taken back later.
Jah told the court that a land was purchased in Karachi for Rs 900 million, at Rs 490 million above its market value.
Jah said eight people had been were arrested so far and FIA had recovered various cheques amounting to Rs 410 million and seized a number of properties.
Attorney General Maulvi Anwarul Haq told the court that the FIA DG had been personally monitoring the case and wanted to recover each and every penny plundered from the national exchequer.
The chief justice said, “It was your own case and the court just wanted to see how you dealt with the strong and the weak.”
He did not become the largest landlord in Asia sitting on his tomatoes
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