SC gives JIT till Dec 19 to submit final report in fake accounts case

Bank's request to settle the matter out of court termed 'unreasonable and unacceptable' by SC

ISLAMABAD: The joint investigation team probing alleged money laundering by former president Asif Ali Zardari and his close aides was given till December 19 by the Supreme Court on Monday to submit its final report.

Zardari, his sister MNA Faryal Talpur, Omni Group’s Anwar Majeed and his son Abdul Ghani Majeed, former Pakistan Stock Exchange chairperson Hussain Lawai, Summit Bank Senior Vice-President Taha Raza are among those being investigated by the Federal Investigation Agency (FIA) for alleged money laundering through at least 29 fake accounts.

The apex court had taken suo motu notice of the fake accounts case and instructed authorities to expedite the investigation. The Sindh government has repeatedly come under fire for lack of cooperation with the JIT probing the matter.

The three-member bench, headed by Chief Justice Saqib Nisar and comprising Justice Ijazul Ahsan and Justice Faisal Arbab, will consider the final JIT report on December 24.



Regarding the repayment of loans by the accused, the apex court has allowed the National Bank of Pakistan (NBP) to initiate criminal as well as civil proceedings [as per law] against Omni Group after its ASC Munir Ahmed Bhatti said his client, Majeed, has refused to repay outstanding amount to the bank for the shortfall or failure to pledge the sugar and/ or unauthorised removal of pledged stock.

It also termed Summit Bank’s request to facilitate an out-of-court settlement with Omni Group by instructing State Bank of Pakistan as "unreasonable and unacceptable”.



It is pertinent to note that Zardari has recorded his statement before the SC-constituted JIT while PPP chairman Bilawal Bhutto Zardari submitted written response to a questionnaire provided by the team.

Meanwhile, a banking court hearing the same case in Karachi has extended interim bail of the Zardari siblings.