ISLAMABAD: The Securities & Exchange Commission of Pakistan (SECP) Zafar Hijazi has been found guilty of tampering records of the companies owned by the Sharif family by a Federal Investigation Agency (FIA) team. It has also been recommended that a case be registered against him.
On June 19, a three-member bench of the Supreme Court headed by Justice Ejaz Afzal Khan had directed the FIA director general to undertake an inquiry into the allegations by the Joint Investigation Team (JIT) that the SECP had tampered with the records of the Sharifs’ companies.
Thereafter, the apex court had ordered the formation of a four-member FIA team to investigate the allegations. On Saturday, the FIA team submitted a 28-page report to the Supreme Court in which it endorsed the JIT’s views regarding record-tampering.
Local media outlet reported that the FIA team had concluded that SECP Chairman Zafar Hijazi was guilty of “misconduct by passing illegal orders and pressuring his subordinates to do illegal acts, therefore a criminal case under Sections 466, 472 PPC read with 5 (2) PCA 1947 be registered against him”.
The FIA team’s probe also stated that two senior SECP officials Ali Azeem and Maheen Fatima who had complied with the illegal will be charged for being irresponsible and will have to face departmental proceedings.