ISLAMABAD: An accountability court on Friday gave the National Accountability Bureau (NAB) 14-day physical remand of former executive director of Securities and Exchange Commission of Pakistan (SECP) Javed Hussain in the Park Lane company case.
Accountability Judge Muhammad Bashir heard the case related to the facilities which had been allegedly provided to then president Asif Ali Zardari for establishing Park Lane company.
Hussain was produced before the court after the completion of his physical remand.
The NAB prosecutor pleaded the court for extending the physical remand of Hussain for 14 more days in order to continue the investigation in the corruption case.
While approving the plea of the anti-corruption watchdog, the court handed over the accused to NAB on 14-day physical remand.
Later, the hearing was adjourned.
Zardari is already in NAB’s custody in fake bank accounts and Park Lane Estate Company cases. According to anti-graft watchdog body, Zardari was allegedly running a fake front company by the name of Parathon as a shareholder in Park Lane properties.
A loan worth Rs 1.5 billion was taken out from the bank and transferred to the company account in a private bank.
It has also been revealed that he had forged documents to comply with the loan policy and coaxed the National Bank into loan approval.
