NICL scam: FIA conducting raids to arrest Dada, SC told

Red warrants issued for repatriating absconders.

ISLAMABAD: The Federal Investigation Agency (FIA) informed the Supreme Court on Tuesday that raids are being conducted to arrest Amin Qasim Dada, the main accused in the National Insurance Corporation Limited (NICL) land scam.

Dada’s name has been added to the Exit Control List, FIA Karachi Director Moazam Jah apprised the court. Red warrants have been issued for repatriating absconders.

NICL borrowed Rs900 million from various banks to purchase the land. The money was deposited in the accounts of Khalid Anwar and Ayaz Khan Niazi who acted as the front men of Zafar Saleem.

The FIA has recovered Rs73 million and confiscated assets valued at over Rs520 million to date. The agency is in contact with 20 organisations to determine Dada’s assets.

Additional FIA DG Zafar Qureshi informed the court that the agency found a fake account worth Rs100 million opened by Abdul Malik in the name of Khadim Rasul of Phaliyan.

During investigation, Malik revealed the fake accounts and the names of bank managers who abetted him. “We are trying to extract Rs420 million from Rana Muhammad Ali, Mohsin Warraich’s manager, who is being shielded by Malik Imran,” Qureshi said. The court directed Qureshi to arrest Imran for interrogation.

Published in The Express Tribune, February 2^nd, 2011.