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Why did NAB arrest former president Asif Zardari?

Reporting | - Posted: Jun 11, 2019 | Last Updated: 1 year ago
SAMAA |
Posted: Jun 11, 2019 | Last Updated: 1 year ago
Why did NAB arrest former president Asif Zardari?

PHOTO: ONLINE

Pakistan’s accountability bureau has accused former president Asif Ali Zardari of plotting to “misappropriate and launder” money through his associates to whiten what the bureau terms his “ill-gotten” money through fake accounts in Summit Bank. He has also been accused of controlling and benefitting from the transactions in the fake accounts.

He was arrested from his outside his house in Islamabad on Monday after the high court rejected his bail.

NAB has been investigating Zardari and his sister, Faryal Talpur, in different inquiries pertaining to the fake accounts case.

Here are the grounds presented by the NAB in the accountability court for arresting Asif Zardari:

  1. Plotting to misappropriate and launder money through frontmen through fake accounts in Summit Bank.
  2. Remotely controlling the transactions of fake accounts and benefitting from them.
  3. Zardari’s associates deposited his illegal gains in fake accounts for laundering, rerouting and reinvestment in Summit Bank Limited.
  4. Acquiring stakes in Summit Bank through AG Majid by showing Naseer Abdullah Hussain Lootah, a UAE national, through Suroor Investments Limited Mauritius.
  5. Using Omni Group as a hedge to distance himself from the fake accounts opened in Summit Bank via Omni Group front men and laundering money in collusion with Hussain Lawai, president Summit.
  6. Out of Rs4.4 billion routed from fake A-One International, Rs2.8 billion was allegedly used to purchase shares of Summit Bank.
  7. Being the owner of Zardari Group, the former president received millions from fake accounts of A-One International and Umair Associated.
  8. In collusion with AG Majid and Hussain Lawai, Asif Zardari allegedly got unauthorised payments released from the sundry account of Summit Bank for the construction on a plot in Clifton, Karachi.

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Asif Ali Zardari, NAB, fake accounts case, Islamabad High Court
 

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