World Updates

Zardari's non-bailable arrest warrants issued by Karachi banking court: report


World updates

Updated17/08/18  
By Dawn
A banking court in Karachi on Friday issued non-bailable warrants of arrest against PPP co-chairman and former president Asif Ali Zardari in the fake bank accounts scam case, Radio Pakistan reported.
While hearing a case relating to the money laundering probe, the court directed authorities to present Zardari and other suspects before it by September 4.
However, PPP spokesperson Farhatullah Babar issued a statement in which he quoted Zardari's counsel Farooq Naek as saying that no warrants against the former president have been issued.
The fake accounts case revolves around a 2015 inquiry into suspicious transactions when 29 ‘benami’ accounts were identified, 16 of them in the Summit Bank, eight in the Sindh Bank and five in the United Bank Limited.
Seven individuals were found involved in suspiciously transacting Rs35 billion. Hussain Lawai, former chairman of the Pakistan Stock Exchange and a close aide of Zardari, Omni Group of Companies chairman Khawaja Anvar Majeed and his brother Ghani Majeed, and co-accused Taha Raza – head of the Summit Bank’s corporate unit – have been arrested in the case.

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