NICL Scam: Moonis Elahi’s co-accused granted bail

LAHORE:

District and Sessions Judge Mujahid Mustaqeem Ahmed on Friday granted bail to Muhammad Maalik and Muhammad Khalil allegedly involved in the National Insurance Corporation Limited (NICL) scam after they furnished surety bonds worth Rs200,000 and presented two guarantors each.

Prosecution lawyer stated that the accused had not caused any delay in the trial and such were entitled to bail on legal grounds. He said the accused, had never been previously convicted of any crime.

Chaudhry Muhammad Aslam and Javed Hussain appearing for the Federal Investigation Authority opposed the bails. They said some witnesses, three judicial magistrates, a handwriting expert and some five investigation officers were yet to be examined at the hearing on February 14.

According to the FIA Mohsin Warraich transferred Rs1 billion to Khadim Hussain’s bank account in an Allied Bank branch. Hussain when interrogated denied having opened any account and claimed that his signatures must have been forged. During investigation, Khalil, identified Maalik as the person who opened the account. Both were arrested in January 2011.

Published in The Express Tribune, February 11^th, 2012.