Asif Zardari, Faryal Talpur others appear before banking court in money laundering case

KARACHI: Former President Asif Ali Zardari and his sister Faryal Talpur have appeared before banking court in money laundering case.
This was last day of their release on bail for Asif Zardari, Faryal Talpur, Anwar Majid owner of Omni group, his three sons and others and all these accused appeared in the banking court.
The hearing of the case took place in banking court Karachi on Tuesday.
FIA Prosecutor opposed to initiation of any action on the application saying Supreme Court (SC) has restrained from giving any decision in respect of Omni group accounts.
Counsel for Anwar Majeed said SC had stopped from issuing any order and not from giving any arguments.
Banking court judge remarked “ first of all we read the SC order and then we will decide.
Counsel for Anwar Majeed prayed FIA should be directed to present final challan.
The court remarked “ this matter is in SC now. Therefore, we can say to FIA in connection with time frame for challan.
The court adjourned the hearing of money laundering through fake accounts case till October 16.
It may be recalled fake accounts suo motu notice is sub judice in Sc and the apex court had directed subordinate courts that it should be informed before giving any decision.
FIA said that state bank of Pakistan had taken up money laundering case for the first time in 2016. State Bank had sent report of Suspicious transactions (STRs) to FIA.
According to authorities fake accounts were opened by Bank managers at the behest of administration and administration opened these accounts at the behest of Omni group. These all accounts were opened during 2013 to 2015 for the period ranging between 6 months and 10 months. Through these accounts money was laundered. And as per available documents the money laundering of Rs 35 billion was carried out.
On the report of suspicious transaction (STRs), inquiry was held under the orders of Director FIA Sindh. Four bank accounts were found involved in suspicious transaction in March 15.
FIA claimed that all these four accounts pertained to Omni group. In the inquiry it was recommended to register the case but no case was registered due to alleged pressure. Even inquiry was stopped.
Inquiry was resumed on January 21,2018 and only bank employees were investigated in the inquiry. Notices were issued to Zain Malik, Aslam Masood, Arif Khan, Hussain Lawai, Nasir Lotha, Taha Raza, Anwar Majeed, AG Majeed and others after inquiry and their name were placed in top list.
According to FIA, record was summoned from all banks but no record was provided. Summit bank provided record of one account A-1 International only. Upon it case was registered.
State bank sent notice to Summit bank to deposit equity. Rs 7 billion were transferred to bank accounts of Nasir Lotha chairman Summit bank. This money was transferred from A-1 International account to Nasir Lotha account. Nasir Lotha deposited this amount in state bank as equity. About 2 to 3 companies and some persons kept on depositing money in these 29 accounts.
The authorities told after investigation it seemed as if what amount was deposited it was ill gotton. After all these investigations it was decided to register case of fake accounts and money laundering.
Case of money laundering and fake accounts was registered against Anwar Majeed, owner of Omni group, Summit bank administration and others .