SC forms JIT to probe Rs35bn money laundering case

–FIA Additional DG Ehsan Sadiq to head six-member JIT that also includes a brigadier from ISI

–FIA informs court about two more Zardari Group companies allegedly involved in mega corruption scam

ISLAMABAD: The Supreme Court (SC) on Thursday formed a Joint Investigation Team (JIT) to probe alleged laundering of at least Rs 35 billion through fake bank accounts, as the Federal Investigation Agency (FIA) identified two more companies belonging to the Zardari Group allegedly involved in the scam.

Seven individuals, including former president and Pakistan People’s Party (PPP) Co-Chairman Asif Zardari and his sister Faryal Talpur, are said to be involved in using those accounts for allegedly channeling funds received through kickbacks and commissions.

FIA’s Additional Director General (Economic Crime Wing) Ehsan Sadiq has been appointed as the head of the JIT by the apex court.

The other members of the JIT include Brigadier Shahid Parvez of Inter-Services Intelligence (ISI), Muhammad Afzal of Securities and Exchange Commission of Pakistan (SECP), NAB Islamabad Director Noman Aslam, Majid Hussain of State Bank of Pakistan (SBP) and Tax Commissioner Imran Latif Minhas.

The JIT, its members and members of the FIA have been directed not to provide the media with any information regarding the investigation.

Moreover, Pakistan Rangers have been tasked to provide adequate security to the team. This has been done to address the DG FIA’s apprehensions regarding the JIT’s security.

The apex court has given the following mandate to the JIT:

The JIT shall set up its Secretariat at a place convenient to it; the JIT shall have all powers relating to inquiries and investigations including those available in the Code of Criminal Procedure, 1908; National Accountability Ordinance, 1999; Federal Investigation Agency Act, 1974 and the Anti-Corruption Laws, etc; all executive authorities or agencies in the country shall render assistance and provide support to the JIT in its working, if required; the JIT shall submit periodic reports before this court qua the progress made in the investigation on fortnightly basis under sealed cover for examination; the Additional Director General, FIA, who shall head the JIT may co-opt any other expert who may in his opinion be necessary to complete the investigation in an effective and timely manner; First report of the JIT shall be filed within a period of 15 days from the day of its formation.

The court has rejected the request to move this investigation to Islamabad at the moment. However, room has been left for the request to be reexamined, should the need arise.

The case will now be heard in the Supreme Court on September 24.

Earlier this week, while hearing a suo motu case regarding a delay in the FIA probe into the case, the SC had deliberated over the formation of an investigation team, but said that it would only be constituted once the defence and prosecution lawyers conclude their arguments.

TWO MORE ZARDARI GROUP COMPANIES IDENTIFIED:

The development comes as the FIA in its progress report submitted to the Supreme Court on Thursday stated that two Zardari group companies – M/s Landmarks and National Gases (Pvt) Limited – were found involved in the scandal during the inspection of a hard disk confiscated during a raid on Khoski Sugar Mills –an Omni Group-owned facility in Karachi whose head Anwar Majeed is a close Zardari confidant.

The report said that “M/s Landmark is a partnership firm owned by Asif Zardari and his sisters Faryal Talpur and Azra Fazal Pechuho, whereas M/s NGS has several members of the Majeed family holding key positions”.

The FIA further said that it is analysing NGS’s transactions and “its role in the laundering of the money”.

Furthermore, it was reported to the court that five members of the Omni Group had deposited funds into a Summit Bank account, after which the money was routed to various banks in London.

“In addition to conventional banking channels, funds were also laundered via Hawal/Hundi system for the purchase of movable and immovable properties overseas,” the agency officials said.

During the hearing, Federal Investigation Agency (FIA) Director General Bashir Memon recorded his statement and said that a raid was conducted at the Omni Group’s office in Karachi.

“We found documents related to Kam Crown International Trading House Company in Dubai during the raid,” the DG FIA said and added that based on the documents, a raid was conducted at the Dubai office as well.

“During the raid at the Dubai office we found numerous records of foreign currency accounts,” Memon said. He further added that the accounts found there belong to Omni Group Chairman Anwar Majeed’s family and the “transfers in the accounts were made by the same people as those indicated in the account details. The money was sent from Dubai to England and France”.

Memon continued, “We also seized several hard drives containing a lot of data.”

Following this, Justice Ijazul Ahsan questioned if FIA has people who can check the data. To this, Memon said that the cybercrime wing is “working on it”.

The FIA is investigating 32 people in relation to money laundering from fictitious accounts, including Zardari and Faryal. Zardari’s close aide and prominent banker Hussain Lawai was arrested by the FIA on July 6 in connection to a multi-billion money laundering scam. Moreover, Taha Raza was also arrested in connection with the same case.

It was also reported that warrants were issued for suspects absconding in the case, including Namar Majeed, Aslam Masood, Arif Khan, Naseer Abdullah Hussain, Adnan Javed, Mohammad Umair, Iqbal, Azam Wazir Khan, Zain Malik, and Mustafa Zulqarnain.

Meanwhile, Zardari and Talpur have obtained pre-arrest bails, and according to the FIA reported submitted in the SC, have been handed questionnaires to respond to the allegations levelled against them.