The National Accountability Bureau (NAB) has decided to put the names of former SECP chairman Mohammad Ali, former SECP commissioner Imtiaz Haider and an important stock market broker on the Exit Control List (ECL) for their alleged involvement in the Rs 100 billion Ogra scam also involving Tauqir Sadiq, according to local media report.
According to the report, the bureau has also decided to issue the arrest warrants for all three accused but the proceedings against them would be initiated after the appointment of the NAB chairman.
The NAB also received a copy of the report by the policy board of the SECP and submitted it in the apex court which confirmed the regulatory capture of SECP by vested interests. The report also confirmed that suspicious moves were identified in the trading of SSGC and SNGPL shares during 2010 and 2011 and a renowned stockbroker was involved in arranged trading with National Bank of Pakistan (NBP).
According to the report, the bureau will interrogate some officials of the NBP for their role in OGRA scam as these officials were directly involved in buying shares of gas companies from the leading stock broker on inflated price. The name of former SECP chairman Mohammad Ali whose was already on ECL while the names of Imtiaz Haider and a stock marker broker would be added to the list, according to the report.
Quoting an anonymous official, the report said that the NAB officials were ready to issue arrest warrants of all the accused as the SECP policy board report had established their criminal role beyond any doubt.
“Investigation into the OGRA scam is moving forward but the details of the probe cannot be shared with the media at this stage,” NAB spokesman Ramzan Sajid was quoted as having said.
