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Banking Court Issues Asif Zardari’s Arrest Warrants

Karachi (August 17, 2018): Karachi’s Banking Court on Friday issued arrest warrants of PPP Co-Chairman and Former President, Asif Ali Zardari in money laundering scam.

The court while issuing non-bailable arrest warrants of Zardari has directed to produce him on September 4.

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Arrest directives of other absconders namely Naseer Abdullah, Aslam Masood, Arif Khan, Noreen Sultan, Adnan Javed and others have also been issued.The Federal Investigation Agency 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 last month in connection with the probe.

Earlier today, a banking court in Karachi approved the physical remand of former president Asif Zardari s close aide and Omni Group Chairman Anwar Majeed and his son Abdul Ghani till August 24 in money laundering case.Anwar Majeed, Son Remanded Till August 24FIA will keep the duo on a seven-day physical remand as per the court’s directions.

Anwar Majeed was arrested outside the Supreme Court.

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Earlier on August 16, Karachi’s Banking Court extended PPP’s Faryal Talpur bail before arrest till September 04 in money laundering case.

Faryal Talpur appeared before the banking court in the money laundering case.Banking Court Extends Faryal Talpur’s Bail Before ArrestHearing on the bail plea of Hussain Lawai and Talha Raza was adjourned by the court due to unavailability of their counsel.

Interim bails for some others, including Shehzad Jatoi and Sher Muhammad Mugheri, were also extended until the same date.

A decision on the bail of Lawai and Taha Raza was adjourned until August 18.

Background Of The Case:

The Supreme Court in July had taken up a suo motu case regarding fake accounts that revolve around a 2015 inquiry into the suspicious transactions when 29 ‘benami’ bank accounts were identified.Seven individuals were found involved in transacting Rs35bn suspiciously.

Seven individuals were said to be involved in using those accounts for suspicious transactions. The accounts were allegedly used to channel funds received through kickbacks.

The investigation has, however, revealed that the amount laundered can go up to Rs100billion.

Related News:

Anwar Majeed, Son Remanded Till August 24

Banking Court Extends Faryal Talpur’s Bail Before Arrest