ISLAMABAD: The Islamabad High Court (IHC) on Saturday rejected post-arrest bail request filed by former Pakistan Stock Exchange chairman Hussain Lawai and Summit Bank Senior Vice-President Taha Raza.
The National Accountability Bureau (NAB) arrested them on charges of money laundering through fake bank accounts.
The bail request was filed by their counsel on health grounds.
During the hearing, a two-member bench comprising Justice Mohsin Akhtar Kiyani and Justice Aamer Farooq observed that the bail applications lack merit as there is no apparent health issue.
The bench further announced that the accused prima facie had a link with the case as they held important designations in Summit Bank.
The detailed judgement notes that corruption is rampant and has spread like cancer in our society, if adequate steps are not initiated to curb it then the ramifications would be devastating.