KARACHI: The Federal Investigation Agency informed a sessions court on Saturday that former president and Pakistan Peoples Party co-chairman Asif Ali Zardari and his sister Faryal Talpur were among 20 persons absconding in a Rs4.14 billion money laundering case.

The FIA filed an interim charge sheet against two held suspects — former Pakistan Stock Exchange chairman Hussain Lawai and banker Taha Raza — in a case pertaining to opening of alleged fake accounts for money laundering.

The investigating officer also included names of 20 beneficiaries of the fake accounts, who are not yet arrested and absconders, in the ‘Column 2’ of the charge sheet. The list also included the names of Mr Zardari, his sister Faryal Talpur, Abdul Ghani Majeed, Shahzad Ali, Zain Malik and 15 others as absconders.

FIA detained Mr Lawai and Mr Raza on July 6, accusing them of facilitating opening of the 29 fake accounts in three private banks allegedly for money laundering.

Interim charge sheet filed against former PSX chairman Hussain Lawai

On Saturday, the IO informed the court that during the course of an inquiry upon receipt of a suspicious transaction report regarding 29 accounts, it was established that one account in the title of A-One International, was fraudulently opened by using Tariq Sultan’s computerised national identity card in his name, but he denied having opened the said account, which was found to be fake/forged.

“Subsequently, this bank account was used to place illegitimate funds for the purpose of money laundering,” it said, adding that the account statement showed that during a short span of 10 months (from March 6, 2014 to Jan 12, 2015) a sum of Rs4.145bn was credited and routed through this account.

It further mentioned that the said amount was transferred to 13 different business entities, including the Zardari Group — a company owned by Mr Zardari and his sister Faryal — which received Rs15 million.

It disclosed that the largest amount of Rs2.492bn was transferred to the account of a UAE national, Nasser Abdullah Lootah, then vice-chairman and present chairman of Summit Bank. It further showed that the second biggest transaction of Rs73.782m was made to the account of M/s Ansari Sugar Mills, while Rs5m was transferred to the M/s Omni Polymer Packages (Pvt) Ltd.

A case was registered against them under Sections 419 (punishment for cheating by personation), 420 (cheating and dishonestly Inducing delivery of property), 468 (forgery for purpose of cheating), 471 (using as genuine a forged document) and 109 (abetment) of the Pakistan Penal Code read with Section 5(2) of Prevention of Corruption Act, 1947 and Sections 3 and 4 of the Anti-Money Laundering Act, 2010.

The interim charge sheet stated that opening of bogus account, placement of illegitimate funds in it, layering of funds in different accounts and integration of funds in the shape of reporting of equity of Summit Bank to the State Bank of Pakistan were major indicators of money laundering.

“Naseer Abdulla Lootah [Chairman Summit Bank, a UAE National, presently out of country] and Hussain Lawai, the then president (now vice-chairman) of Summit Bank have been found instrumental in laundering of money,” it added.

During scrutiny of bank statement of account of Chamber Sugar Mills (Pvt) Limited, it transpired that all above amount aggregating to Rs200m was credited on July 2, 2014 and was transferred vide four cheques for Rs50m each on the same day, the interim charge sheet said.

It added that the beneficiary account of the amount was yet to be ascertained for which the record was to be obtained from the banks concerned.

It stated that M/s Agro Farms Thatta (Pvt) Limited is maintaining an account at Summit Bank Branch Karachi and an amount of Rs5.7m was credited from the fake account of A-One International through two cheques.

It stated that suspect Raza disclosed that being the unit corporate head of Summit Bank he was in contact with Aslam Masood for processing of credit facilities and with Hussain Lawai regarding approval of credit facilities for companies of M/s Omni Group. “Hussain Lawai and Taha Raza also disclosed that Omni Group has obtained various credit facilities for Rs7 billion approx,” it added.

The interim charge sheet mentioned that during the course of investigations bank record of M/s Zardari Group (Pvt) Limited was obtained. “During scrutiny of the account opening form, it has been revealed that accused Hussain Lawai has also marketed/referred this account as mention in the KYC and Call Report of said account opening form.”

Besides, from the scrutiny of bank statement, vouchers and from the statement of prosecution witness Yousuf Ismail, it was revealed that a cheque dated May 20, 2014 amounting to Rs15m of account titled A-One International at Summit Bank (Khayaban-i-Tanzeem Branch) in favour of the Zardari Group duly stamped dated May 15, 2014 was credited in account titled Zardari Group maintained at Summit Bank, Dolmen City Branch Karachi, it added.

The court accepted the interim charge sheet and directed the IO to produce the detained accused on the next date.

Published in Dawn, July 22nd, 2018