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Banking Court Adjourns Money Laundering Case Till Nov 13

Karachi (October 16, 2018): Co-Chairman Pakistan Peoples Party and former president Asif Ali Zardari along with his sister, Faryal Talpur, appeared before a banking court on Tuesday in money laundering case.

Onmi Group Chairman Anwar Majeed’s three sons, Zulqurnain, Ali and Nimr, also appeared before the court in Karachi.

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However, the case was adjourned till November 13 as the judge hearing it is on holiday.

The banking court had ordered all those named in the case to appear before it today. Former Pakistan Stock Exchange chairman Hussain Lawai, Anwar Majeed, Abdul Ghani Majeed and Hussain Lotha are also suspects in the case pertaining to money laundering through fake bank accounts.

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Zardari, Talpur and Majeed’s three sons have been granted bail in the case.

Earlier on October 04, a banking court hearing a multi-billion rupee money laundering case ordered authorities to declare five absconding suspects proclaimed offenders.

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Further, the judge also issued directives to collect asset details of the offenders.

During yesterday’s proceedings, the banking court had sought the Supreme Court’s (SC) advice on Omni Group’s plea to unfreeze its account.

The petition was filed in relation to a money laundering case against Pakistan Peoples Party (PPP) co-chairman Asif Ali Zardari and his sister Faryal Talpur. The former’s close aide and Omni Group chairman Anwar Majeed and his son, Abdul Ghani, are also accused in the case.

Money Laundering Case 

The case was initially registered in 2015 against former Pakistan Stock Exchange chairman Hussain Lawai, who is widely believed to be close to former president Zardari.

Later, seven individuals, including Zardari and Talpur, were said to have been found involved in using those accounts for suspicious transactions which totalled Rs35 billion. The accounts were allegedly used to channel funds received through kickbacks.Last month, Lawai and banker Taha Raza were detained and booked for allegedly facilitating the opening of 29 ‘fake’ accounts through which suspicious transactions were made to different companies, including M/s Zardari Group.

Talpur had also obtained an interim pre-arrest bail in the case in the sum of Rs2 million.Both the siblings are facing corruption charges relating to fake accounts and fictitious bank transactions worth Rs35 billion.

Both Zardari and Talpur face allegations that they had illegally channelled funds through the said accounts in connivance with the chief executive officers of major banks.In August, the siblings had also appeared before a joint investigation team of the FIA in Islamabad to record their statement in the multi-billion rupee money laundering and fake bank accounts case open against them.

Related News:

Court Declares Five Proclaimed Offenders in Money Laundering