NICL scam: Court orders legal proceedings against Amin Fahim, others

Published: May 24, 2012
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Govt to take strict action against companies, individuals involved: commerce minister. PHOTO:FILE

Govt to take strict action against companies, individuals involved: commerce minister. PHOTO:FILE

ISLAMABAD: While hearing the suo motu case of the National Insurance Company Limited (NICL) Rs5.34 billion scam on Thursday, the Supreme Court ordered that legal proceedings be carried out against Federal Minister Makhdoom Amin Fahim and others involved in the case.

In today’s proceedings, Chief Justice Iftikhar Muhammad Chaudhry said that the plundered money belongs to the people of Pakistan and that it should be returned to them.

Federal Investigation Agency (FIA) Sindh Director Moazzam Jah informed the court that over Rs40 million were transferred to Fahim’s account, which is shared by his son Jaliluz Zaman and wife Rizwana Amin Fahim. He added that the amount was obtained after selling out a plot under NICL.

However, the money was later returned.

During that time, Fahim was heading the ministry of commerce.

The court ordered a probe into the hiring of Ayaz Khan Niazi, who was the chairman of the NICL when the scam was devised. The chief justice observed that Niazi was illegally appointed.

The chief justice ordered that it should be found out why the money was taken and returned.

During the hearing, notices were issued to former and current chairman of Securities and Exchange Commission of Pakistan, seeking an explanation as to why Niazi was appointed.

It was further ordered that a report should be submitted to the court which entails the details of transactions made under the scam and also why an illegal summary, signed by Fahim, was forwarded to Prime Minister Yousaf Raza Gilani for approval.

The legal director of FIA and Commerce Secretary Zafar Mahmood were also present during the hearing.

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Reader Comments (8)

  • S@T@N
    May 24, 2012 - 3:51PM

    Everyone involved should be hanged till death.

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  • Hasan
    May 24, 2012 - 4:02PM

    He is so innocent that he doesnt know that who deposited Rs. 40 million in his bank account. waawooo

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  • Sehr.Siddiqui
    May 24, 2012 - 4:46PM

    The court has called past and current Chairman for illegal appointment of Ayaz Khan Niazi. Well the appointing authority is PM. Interestingly the appointment of past and current chairman is also illegal and a case against them is pending before SC. their appointment has also been made by PM. So much for the governance.. Ahahaha.

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  • shakil
    May 24, 2012 - 4:54PM

    i wish someone deposited that kind of money in to my account.

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  • zeeshan
    May 24, 2012 - 5:32PM

    Good idea, one more meaningless practice in going on to start, when you do not dare to punish any powerful then why are wasting time? poor people are enough for your court hear them and punish them prisons are wait for them. Recommend

  • maz3tt
    May 24, 2012 - 5:57PM

    i don’t think so there is mr clean in the government or in active ppp members right now?. i doub’t that there were anyone in the top leadership previously as well.

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  • Naeem Khan Manhattan,Ks
    May 24, 2012 - 7:20PM

    The person who has transferred the money to this thug Fahim’s account should also be brought to justice , why and under which law and regulation this money was transferred to personal account. PPP has crossed all boundaries of decency and corruption. If the people of Pakistan will elect these thugs and looters again then you people deserve every bit of what it is and has happened in the past 4 years.

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  • ashar
    May 24, 2012 - 8:04PM

    What is the meaning of democracy?
    “Corruption” replied a boy of a school in Karachi.

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