NICL scandal: Qureshi wants to file charges against Punjab FIA chief

Two accused of improperly unfreezing bank accounts owned by Elahi’s companies.

LAHORE:

The lead investigator into the multi-billion rupee embezzlement scandal at the National Insurance Company Ltd (NICL) has sought permission from the federal interior secretary to file charges against senior Federal Investigation Agency officials – including the head of the Punjab division of the FIA – for unfreezing some of the bank accounts of the accused in the case.

Zafar Qureshi has sought permission to file charges against Punjab FIA Director Waqar Haider and Chaudhry Zulifqar Ali, an assistant director at the FIA’s legal department in Lahore, for unfreezing the accounts of two companies owned by Chaudhry Moonis Elahi, one of the principal accused in the case. The two men are accused of having interfered with the case during the time that Qureshi was suspended from his role as lead investigator.

The two accounts in question were at Al-Baraka Islamic Bank and Allied Bank and belong to two companies in which Elahi is a major stakeholder. The first is At-Tahur, a dairy company that markets its products under the brand name Prema. The second is Agro Tractors, a distributor of farm equipment and machinery.

The two accounts, which had a combined Rs22 million in them, were frozen by Qureshi as part of his investigation into an allegedly fraudulent land transaction involving Elahi and the NICL. Elahi had allegedly used Mohsin Habib Warraich, the son of a former federal cabinet member, as a middle man in a Rs320 million transaction. The accounts were suspected of being used to launder the embezzled money.

According to sources familiar with the matter, when Qureshi was suspended from his position as lead investigator into the case, the two companies requested a legal opinion from the FIA in order to get their company accounts unfrozen.

Chaudhry Zulifqar Ali, a lawyer at the FIA, duly provided an opinion that the banks accounts were no longer suspected of being conduits for illicit money. Sources say that Punjab FIA Director Waqar Haider was a key player in ensuring that such an opinion was given by Chaudhry Zulfiqar.

Once the companies submitted the FIA’s letter to the banks, the accounts were unfrozen and the companies withdrew the entire amount in those accounts. It is not yet certain what the money was then used for.

Upon his return, Qureshi was incensed that the accounts had been wiped clean. After receiving testimony from officials at Allied Bank and Al Baraka, he decided to pursue obstruction of justice charges against the two FIA officials responsible.

FIA director refuses court orders

Despite orders being issued by the Supreme Court, FIA Director General Tahsin Anwar Shah has refused to countersign the fortnightly investigation progress report that Qureshi has been ordered by the court to deliver, said sources.

Since his reinstatement, Qureshi has submitted two reports – on August 22 and September 6 – neither of which was countersigned by Shah. According to sources, Qureshi had requested Shah, who is his boss, to countersign his reports. Upon Shah’s refusal, Qureshi submitted those reports anyway. The next report is due on September 22. Sources said that Shah is unlikely to sign that report either.

Published in The Express Tribune, September 15^th,  2011.