Application filed for Moonis’ acquittal in NICL scam | Pakistan Today

Application filed for Moonis’ acquittal in NICL scam

An application was filed in court of the special judge banking offence (central) for acquittal of Pakistan Muslim League-Quaid (PML-Q) Member of Provincial Assembly (MPA) Chaudhry Moonis Elahi in the National Insurance Company Limited (NICL) scam on Friday.
Moonis filed the application under Section 265-K of the CrPC submitting that all prosecution witnesses have confessed before the judge that the Federal Investigation Agency (FIA) has prepared the case on fake evidences. After backing out of all prosecution witnesses, no evidence is left against the PML-Q MPA and according to law, a trial could not continue without evidences. On basis of these arguments, the court might acquit the applicant.
Separately, an accountability court extended the judicial remand of Kanal Motors directors Hafiz Usman Yousaf, Rana Qaisar Nazeer, Mohsin Abbasi and Ahsan Abbasi until July 15. The accused collected more than Rs 1.2 billion from the public at large under the garb of car trading and embezzled the money with active connivance of each other and transferred the looted money into accounts of benamidars.
Also on Friday, an accountability court extended the judicial remand of Imtinan Saeed, Omeed Ayyaz Mehmood and Faisal Rasheed involved in embezzlement of Rs 140 million, obtained from the National Bank of Pakistan (NBP) as loan through fake documents, until July 15.
Omeed was manager of the NBP Lytton Road Branch while Imtinan was legal council of the bank. Imtinan and Faisal established five firms including Paragon Leather, Imperial Chemicals, Ikhlaq Traders, Y to K Traders and Copier Traders. The accused acquired five loans on fake documents in the name of their firms from the NBP Lytton Road Branch worth Rs 140 million and embezzled the amount afterwards.
Omeed in active aid, abetment and connivance of the other accused granted three bogus loans worth Rs 100 million against fake collaterals and without verifying documents.

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