ISLAMABAD: The Joint Investigation Team (JIT) in its report submitted before the Supreme Court on Monday has revealed that Javed Kiyani, partner of Sharif family, and Saeed Ahmed, incumbent president of National Bank of Pakistan, played a key role in transferring large sums of money abroad through opening fictitious foreign currency accounts.
The JIT has brought on record substantial additional evidence which substantiates and corroborates the FIA and NAB investigations and also establishes the linkages between the two investigations.
JIT recommended that all three cases are fit to be reopened for investigation and trial on the bases of new additional evidences procured and brought on record by the JIT.
In view of the significance of the key role played by Saeed Ahmed in light of evidence and witness statements already on record and additional evidence collected by JIT in the Hudabiya Paper Mills reference, the JIT recommended that his name should also be added to the list of persons accused in the case.
Similarly, it said that based on the significance of his role in the FIA FIRs and in light of new evidence collected by JIT, the name of Javed Kiyani should also be included in the list of persons already accused in the case.
Javed Kiyani, an account holder of Habib Bank AG Zuerich (HBAZ), Lahore, having close relationship with the branch officials, assisted in opening of fictitious foreign currency accounts, remitting funds into these accounts and to further utilise foreign currency available in these accounts as collateral for loans to some of the companies of Sharif family.
“Javed Kiyani opened fictitious FCAs in the names of Sulman Zia, Muhammad Ramzan and Asghar Ali at HBAZ on 26 Aug, 1992, while maintaining old accounts of Attia Kiyani (wife), begum Marium Kiyani (mother) and his own (Javed Kiyani) in the same bank. Complete documentation for opening of accounts was done by Javed Kiyani himself as verified through the report of handwriting expert and statements of bank staff responsible for accounts opening and subsequent transactions in the FCAs,” reads JIT report.
During 1992, Javed Kiyani started transferring money from different accounts abroad into Benami FCAs opened at HBAZ in the form of Foreign Telegraphic Transfer (FTTs), Dollar Bearer Certificates (DBC) and Traveller Cheques (TCs). Multiple interbank transfers of large amount were carried out in order to create a cloud cover to hide the money trail.
JIT has found evidence of transactions worth USD 2,343,028/- in Sulman Zia’s account carried out during the period 1992-94; USD 1,562,477/- in Muhammad Ramzan’s account during 1992-93l; USD 1,968,607/- in Asghar Ali’s account carried out during 1992-3; and USD 775,560/- in Javed Kiyani’s account carried out during 1992-94.
On September 23, 1991, an FCA of Saeed Ahmed was opened in Bank of America, Lahore Branch. Almost all funds accumulated in this account were through FTTs. On June 4, 1992, DBCs of almost aggregate funds of USD 1,074,000/- were issued. On the same date, the same amounts of DBCs were deposited in the newly opened accounts of Musa Ghani. Subsequently, various others of Saeed Ahmed were also opened in different banks.
Evidence of transactions in Saeed Ahmed’s accounts (Al-Baraka Islamic Bank, Emirates Bank, Bank of America and Al-Towfeek Bank) were identified by JIT after detailed probing of the facts.
Similarly, on May 12, 1992, an FCA of Mukhtar Hussain (a senior employee of Ittefaq Group Companies) was opened in Bank of America, Lahore Branch. Funds of USD 1,162,000/- accumulated in this account comprised of an FTT of USD 861,102/- and cash deposit of USD 300,000/-. On June 30, 1992, DBCs of total accumulated amount of USD 1,162,000/- were issued. The same amount of DBCs on the same date were deposited in the account of Talat Masud Qazi in the same bank.
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