SC awaiting final JIT report in fake accounts case: CJP

Omni Group must compensate losses incurred by banks, says court

ISLAMABAD: The Supreme Court on Tuesday resumed the hearing of a suo motu case pertaining to money laundering through fake bank accounts that also involves the Pakistan Peoples Party’s (PPP) top leadership.

Former president Asif Ali Zardari, his sister Faryal Talpur, Omni Group’s Anwar Majeed, former Pakistan Stock Exchange chairman Hussain Lawai and Summit Bank Senior Vice-President Taha Raza are among those being investigated by the Federal Investigation Agency (FIA) for alleged money laundering of over Rs35 billion through fake accounts.



During the hearing, Chief Justice Saqib Nisar remarked that the apex court was aware of developments in the probe and was awaiting the final Joint Investigation Team (JIT) report.

DG FIA Bashir Memon informed the three-member bench, headed by the top judge and comprising Justice Ijazul Ahsan and Justice Sajjad Ali Shah, that Omni Group’s assets worth Rs11.29 billion are mortgaged with banks.

Inquiring whether Anwar Majeed’s son, Namar Majeed, was present in the courtroom, the chief justice said that the former had been spared from being arrested to ensure financial matters were resolved. Namar was briefly detained on Saturday by the FIA.

“Omni Group must compensate the losses incurred by banks,” Justice Nisar asserted.



The group’s counsel, Munir Bhatti, sought 10-days to negotiate with the banks while their lawyer Khawaja Naveed said the group intended to pay back loans through funds currently frozen in United Bank Limited (UBL) accounts.

According to the JIT’s report, Omni Group owed a total debt of Rs73 billion to different banks. It took Rs23 billion from the National Bank of Pakistan and Rs50 billion from Sindh Bank, Silk Bank and Summit Bank.

Last week, Supreme Court expressed ire over Sindh government's noncooperation with JIT and directed Sindh Chief Minister Murad Ali Shah to ensure cooperation.