LHC releases six accused in NICL scam

Lahore High Court accepts bail pleas of all six accused in land scam, Chaudhry Shujaat says Moonis victimised.

LAHORE: The Lahore High Court (LHC) on Thursday accepted bail pleas of all six accused in the ongoing National Insurance Company Limited (NICL) case.

Rejecting the court Federal Investigation Agency’s (FIA) request to dismiss the bail pleas of the accused, the court issued release orders for the six accused in the scam.

The accused have been directed to submit surety bonds of Rs2 million each.

During the hearing an FIA official informed the bench that Rs1.68 billion had been recovered so far.

The case revolves around five allegedly fraudulent transactions involving senior NICL officials and private firms linked to leading businessmen and politicians. Three of the transactions involve land in Karachi, including two fraudulent purchases of land worth Rs2.7 billion and Rs27 million contract to renovate NICL headquarters in Karachi, allegedly by a company that used irregular means to obtain the contract. Two other transactions, involving more than 100 acres of land and Rs3.4 billion, were also alleged to have been conducted with irregularities.

Moonis victimized: Elahi

Pakistan Muslim League-Quaid (PML-Q) chief Chaudhry Shujaat Hussain today said that his son Chaudhry Moonis Elahi will face the courts when he returns to Pakistan.

Addressing a press conference at his residence in Lahore, Shujaat said that Moonis would have returned if his arrest warrant had not been issued.

The FIA has decided to get Chaudhry Moonis Elahi’s proclamation order from court, freeze his movable and immovable property, bank accounts and approach Interpol for his arrest.

The PML-Q chief called the NICL case a charade, saying that the FIA's accusations against Moonis showed the agency's bias.

He said that Moonis' manager was forced to give statements that he later denied in court.

Shujaat said that he will sue the FIA for defamation.