Land purchase case: Ex-EOBI chief turns himself in to FIA

Investigation to commence today.

ISLAMABAD:

After remaining in hiding for over eight months, the main accused in the EOBI case, former chairman Zafar Iqbal Gondal has presented himself before Federal Investigation Agency (FIA) on Tuesday.

Gondal, the former boss of Employees’ Old-age Benefits Institution, obtained protective bail from the Lahore High Court Multan bench, according to FIA sources, who spoke with the Express Investigation Cell.

Gondal arrived at the Islamabad Zone office on Tuesday evening with his brother, a former minister, Nazar Muhammad Gondal, to inform FIA officials about the grant of protective bail. FIA crimes Islamabad Zone’s Capt (Rtd) Zafar Iqbal Awan confirmed that investigation will commence today.

Earlier, another accused in the same case, Abdul Qayyum, wanted by the FIA for the last six months, was arrested a few days ago and is now on judicial remand. According to the FIA investigation team, Qayyum sold Crown Plaza (located in F-7 Islamabad) to EOBI management for Rs1.02 billion, whereas the property was valued at Rs626 million.

Another eight accused in the same case are Iqbal Dawood Pakwala, Malik Imtiaz Mafooz, Wahid Khursheed Siddique, Abid Mehmood, Asif Azad, Mian Warriq Anwar, Massod Ahmed Chaudhry and Qaiser Hassan, also on bail.

The FIA has also reopened an inquiry in the F-11 commercial plot case against accused Qayyum under the FIA Corporate Crime Circle. Syed Ghafoor, a resident of Rawalpindi lodged a complaint before Director General FIA in March 2012 saying Qayyum, the owner of a plaza and mall under construction in F-11 Markaz Islamabad, bought the property for Rs1.61 billion when it was actually worth Rs3.25 billion. An inquiry is underway.

Published in The Express Tribune, March 12^th, 2014.