JIT told that Hassan Nawaz confirmed formation of Capital FZE in 2001-2


ISLAMABAD: Joint Investigation Team (JIT) head Wajid Zia on Tuesday informed the National Accountability Court (AC) II of Islamabad that Hassan Nawaz had confirmed that Capital FZE Company was established in 2001-2 when his family was abroad and an amount of 0.65 million pounds were given to it to purchase property in Dubai.

During the cross-examination by defence counsel, the prosecution witness also deposed that the copies of two trade licenses and a letter written to the Standard Chartered Bank by the Assistant Registrar Capital FZE were part of the source documents in the JIT report. The team had taken the trade licenses related to the Flagship Investment to Dubai for verification, he added.

AC Judge Arshad Malik conducted the hearing of Flagship Investment reference against former prime minister Muhammad Nawaz Sharif, who also appeared before the court. Defence counsel Khawaja Haris continued cross-examination of Wajid Zia.

Zia told the court that accused Hassan Nawaz, son of the former prime minister, had admitted before the JIT that Coint Peddington company had given 0.65 million pounds to his company Capital FZE company as he wanted to purchase property in Dubai.

The Coint Peddington Company was later sold out due to financial loss, Hassan Nawaz further told the JIT.

During the course of proceedings, the court also asked the defence counsel to avoid irrelevant questions as it wanted to complete the trial within the given time.

The JIT head said Khawaja Haris had spent a whole day for cross-examination on the same documents.

The NAB prosecutor also objected that the reference was not based on the points which were being discussed by Haris, who, however, adopted the stance that it was his legal right to ask questions about the documents that were submitted by the prosecution against his client.

Later, the court adjourned the case till Wednesday.