Money scandal: Last hurrah for NICL probe chief
Despite hurdles, Qureshi submits last interim report to SC.
LAHORE:
Zafar Qureshi, the chief investigator of the multi-billion rupee National Insurance Company Limited (NICL) scandal, retired on Friday after submitting the last fortnightly interim progress report on the case. Sources told The Express Tribune that the report had been filed before the scheduled date of October 6, 2011.
The report was due to be presented in the chamber of Supreme Court Judge Justice Amir Hani Muslim, overseen by a three-member bench of the SC. However, due to Qureshi’s retirement from his posts of Additional Director General Federal Investigation Agency (FIA) and Managing Director National Police Foundation, he filed prior to the deadline.
The 100-page interim report makes the following claims regarding Moonis Elahi, son of former Punjab chief minister Chaudhry Pervaiz Elahi, and accused of opening bogus bank accounts in the name of his wife and manager Muhammad Malik. Firstly, that Elahi was registered in 2007 by the Federal Board of Revenue (FBR) as a taxpayer. In 2008 he filed the return papers as he has been drawing a salary of Rs2.4 million annually from At –Tahur Company Limited. His annual income from agriculture was shown as half a million rupees in his papers. Interestingly, in 2009 Qureshi in his investigation found that Elahi’s assets suddenly exceeded Rs640 million. Elahi subsequently showed Rs340 million cash in hand.
During investigation, Malik, the manager of Moonis Elahi’s firm, emerged as the central figure in the dubious transaction involving transfer of Rs320 million from the bank account of Mohsin Habib Warraich (son of former state minister for defence production Major (retd) Habibullah Warraich) to Elahi’s account. Warraichs are the principal accused in the NICL fraud.
Malik played a pivotal role in opening of fake bank accounts on the basis of Computerized National Identity Cards (CNIC) of two presumed sponsors of phony firms (Adil Traders and Khadim Traders) in ABL Airport and Multan Road branches, respectively.
Subsequently he withdrew the entire amount of Rs320 million received as Moonis Elahi’s share in the deal, the report said.
Malik also played a role in depositing the same cash in the accounts of Moonis Elahi, his wife and companies owned by Elahi.
Published in The Express Tribune, October 1st, 2011.
Zafar Qureshi, the chief investigator of the multi-billion rupee National Insurance Company Limited (NICL) scandal, retired on Friday after submitting the last fortnightly interim progress report on the case. Sources told The Express Tribune that the report had been filed before the scheduled date of October 6, 2011.
The report was due to be presented in the chamber of Supreme Court Judge Justice Amir Hani Muslim, overseen by a three-member bench of the SC. However, due to Qureshi’s retirement from his posts of Additional Director General Federal Investigation Agency (FIA) and Managing Director National Police Foundation, he filed prior to the deadline.
The 100-page interim report makes the following claims regarding Moonis Elahi, son of former Punjab chief minister Chaudhry Pervaiz Elahi, and accused of opening bogus bank accounts in the name of his wife and manager Muhammad Malik. Firstly, that Elahi was registered in 2007 by the Federal Board of Revenue (FBR) as a taxpayer. In 2008 he filed the return papers as he has been drawing a salary of Rs2.4 million annually from At –Tahur Company Limited. His annual income from agriculture was shown as half a million rupees in his papers. Interestingly, in 2009 Qureshi in his investigation found that Elahi’s assets suddenly exceeded Rs640 million. Elahi subsequently showed Rs340 million cash in hand.
During investigation, Malik, the manager of Moonis Elahi’s firm, emerged as the central figure in the dubious transaction involving transfer of Rs320 million from the bank account of Mohsin Habib Warraich (son of former state minister for defence production Major (retd) Habibullah Warraich) to Elahi’s account. Warraichs are the principal accused in the NICL fraud.
Malik played a pivotal role in opening of fake bank accounts on the basis of Computerized National Identity Cards (CNIC) of two presumed sponsors of phony firms (Adil Traders and Khadim Traders) in ABL Airport and Multan Road branches, respectively.
Subsequently he withdrew the entire amount of Rs320 million received as Moonis Elahi’s share in the deal, the report said.
Malik also played a role in depositing the same cash in the accounts of Moonis Elahi, his wife and companies owned by Elahi.
Published in The Express Tribune, October 1st, 2011.