Misguiding report: FIA gets 5 day physical remand of AKD officers

KARACHI:

Federal Investigation Agency (FIA) presented three officers of Abdul Karim Dhedi (AKD) Securities Farid Alam, Director Tariq Ghomro and Muhammad Iqbal in the court of Judicial Magistrate East and obtained their physical remand for five days. Renowned businessman Abdul Karim Dhedi was also present during the hearing.

FIA requested the court for 10-day physical remand. The counsels for the accused contended that all the accusations against their clients were baseless. The court asked for the investigation report from the investigating officer who assured that the report will be submitted in the next hearing.

Meanwhile, Additional Director Commercial Banking Circle Altaf Hussain said in a press conference that loss of crores of rupees was inflicted to the national exchequer through a research report.

He said that the inquiry of the case had been under way for the last four years and denied that the FIA director had any personal grudge against AKD or the FIA had any issue against AKD.

He also denied that there was any pressure either from the higher authorities to take action against AKD.

He argued that AKD misguided EOBI regarding purchase of shares and thus inflicted the national exchequer loss of crores of rupees. He condemned the abusive language used against FIA officers.

Published in The Express Tribune, January 6^th, 2016.