Ali Jahangir Siddiqui. PHOTO COURTESY: JS BANK
LAHORE: Ali Jahangir Siddique, Pakistan’s ambassador designate to the United States, appeared before an investigations team of the anti-graft watchdog on Tuesday.
He remained there for over two hours and answered the questions of the investigation team. This is the second appearance of Siddique before the investigations team. Earlier, he had appeared on March 22.
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Siddique had been accused of “syphoning off funds amounting to €23.758 million in 2008 for the purchase of an Italian company, Monte Bello SRL, using a foreign company, Fairytal SRL Sweden, which resulted in a loss to the company and shareholders”.
He was also accused of selling shares of Agritech Ltd to different financial and government institutions by Azgard Nine at a higher price than market price to settle the loan defaults of the company, which resulted in an approximate loss of Rs40 billion to the institutions.
Published in The Express Tribune, April 18th, 2018.
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