A three-judge bench headed by Chief Justice of Pakistan Justice Mian Saqib Nisar is hearing a case pertaining to money laundering of Rs35 billion from fictitious bank accounts.
The top court also stopped the special court from unfreezing Omni Group’s bank accounts.
The Supreme Court issued the directives to the special court under Article 184.
During the hearing, a joint investigation team (JIT) formed to probe into the case submitted its first progress report before the bench in a sealed envelope.
FIA Additional Director General Ahsan Sadiq who is heading the JIT informed the bench that they faced difficulties owing to time constraints and reviewed the investigations that have been conducted so dar.
The JIT head further informed the court that they have discovered 33 more suspicious accounts and they are being scrutinized.
“The investigations so far have indicated that 344 persons were involved and made transactions in the bank accounts in question,” Sadiq said. “210 companies had links with the fake bank accounts,” he added.
To this, Justice Nisar asked, “Is there any progress on the investigations regarding money that was sent through sea launches?” However, the JIT head responded in the negative.
Justice Nisar then remarked, “We have trusted the JIT with the responsibility.”
“The purpose of the bank accounts is to legalise money that was stolen,” he added.
The chief justice then said, “Arif Khan also has an integral role.” However, the JIT head informed the bench, “Arif is not in Pakistan and I cannot yet say which country he is residing in.”
Sadiq further said that steps are being taken to bring back those accused in the case to the country. “Meanwhile, we are also in contact with National Accountability Bureau (NAB), Federal Board of Revenue (FBR), Securities & Exchange Commission of Pakistan (SECP) and State Bank of Pakistan for records to aid with investigations.”
47 companies related to fake accounts have direct links with Omni Group: JIT head
Further, the JIT head told the bench that contractors deposited money in the fake bank accounts. To this, Justice Bandial asked whether the money was deposited through cross cheques.
Responding to the judge’s question, the JIT head said, “We will have to investigate. Of the companies that deposited money in the accounts, 47 are directly linked to Omni Group.”
Justice Nisar then asked how many sugar mills are owned by the Omni Group and Sadiq told him that they are 16.
The chief justice then questioned, “Is Omni Group someone’s benamidaar?” In response the JIT head said, “Contractors also deposited money in the fake money accounts and the names of official contractors have been included in the report. However, it is difficult to probe all transactions.”
“Omni Group will pay for the JIT’s expenses, why should the government pay if someone else has stolen money,” Justice Nisar remarked.
However, Omni Group’s counsel refused to pay for the JIT’s expenses and said, “All our accounts are frozen and we don’t even have money to pay salaries of employees.”
Justice Nisar then told the Omni Group counsel, “Sell one of the houses and give money to the JIT.” However, he responded, “Even all our assets are frozen.”
The top court then ordered that the special court should not issue a ruling on Omni Group’s petition to unfreeze their accounts.
“Under Article 184, we stop the special court from issuing an order on the petition. The special court should not give any rulings without informing the Supreme Court,” the bench directed.
The hearing of the case was then adjourned for the next 10 days.
The case
The FIA is investigating 32 people in relation to money laundering from fictitious accounts, including Zardari and his sister Faryal Talpur. Zardari’s close aide Hussain Lawai was arrested in July in connection with the probe.
The former president’s other close aide and Omni Group chairman Anwar Majeed and his son, Abdul Ghani, were also arrested by the FIA in August.
Over 20 ‘benami’ accounts at some private banks were opened in 2013, 2014 and 2015 from where transactions worth billions of rupees were made, according to sources.
The amount, according to FIA sources, is said to be black money gathered from various kickbacks, commissions and bribes.
JIT Probing Fake Bank Accounts Faces Difficulties
FIA has termed grant of Rs. 1crore to probe fake bank account “Insufficient.”
According to the letter acquired by media, which was written to the Interior Ministry by FIA, grant of Rs. 1 crore has been termed insufficient.
Adding that funds are required for probe of fake accoutns, which were used for alleged money laundering by reuputable firms.
Earlier on September 13, joint investigation team (JIT) formed by the Supreme Court to probe into an ongoing money laundering case has set up its secretariat in Karachi.
Sources said that JIT members agreed on setting up the secretariat in Karachi instead of Islamabad.
“Following their decision, the Secretariat was established in Federal Investigation Agency’s (FIA) new building in Gulistan-e-Jauhar area of the metropolis,” sources added.
Earlier on September 06, the Supreme Court formed a Joint Investigation Team (JIT) to probe alleged laundering of billions of rupees through fake bank accounts in connivance with bankers and others to suspected beneficiaries, including former president Asif Zardari and his sister Faryal Talpur.
Seven individuals, including Zardari and Talpur, were said to be involved in using those accounts for suspicious transactions which were initially found to have totalled Rs35 billion. The accounts were allegedly used to channel funds received through kickbacks.
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, Muhammad Afzal of Securities and Exchange Commission of Pakistan, NAB Islamabad Director Noman Aslam, Majid Hussain of State Bank of Pakistan and Tax Commissioner Imran Latif Minhas.
The JIT, its members and members of the FIA were directed not to provide the media with any information regarding the investigation.
Moreover, Pakistan Rangers was 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 court 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 apex court gave 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 our 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 today.
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