Canal Motors scam: NAB confiscates assets, places principal accused on ECL

Red notices to be issued against Qaisar’s wife and brother-in-law.

LAHORE: NAB has made rapid progress in the Canal Motors scam, confiscating hidden assets and placing the main accused on the Exit Control List (ECL).

A startling 210 claims amounting to Rs1.2 billion are being processed by the bureau.

A NAB inquiry was authorised against the owners of Canal Motors, Lahore, on complaints from the general public by Director General National Accountability Bureau (NAB) Punjab, Justice retired Rana Zahid Mahmood.

It was alleged that the accused Rana Qaisar Nazir in connivance with his associates and close relatives lured innocent people to invest money in booking vehicles at an exaggerated profit.

He embezzled the depositors’ money in addition to taking commission on investments.

He and his associates collected over Rs1.2 billion and transferred the looted money to accounts held by benamidars. They were first arrested by the local police.

One of the perpetrators, Mansoorul Haq, SP Jaranwala, has surrendered assets worth Rs18 million, which had been transferred to benamidars during illegal detention by the police, through ‘Voluntary Return’.

His liability, however, runs into tens of millions. His father, brother and wife, directors in the family-owned enterprise ‘Speedily Wheels” have also been summoned for interrogation.

The main accused, Rana Qaisar Nazir, Mohsan Abbassi, Ahsan Abbssi and Hafiz Usman Yousaf are now in the custody of NAB Punjab. Their names along with the names of their associates, Muhammad Amin Abbasi, Rana Nazir Ahmad, SP Mansoor ul Haq Rana, Rana Muhammad Anwar, Mansoor’s father, and brother, Anwar ul Haq Rana, have been placed on the ECL.

Proceedings have been initiated for the issuance of Red Notices in respect to Amna Qaisar, wife of Qaisar Nazir, and Ali Ayaz Sarwar, his brother-in-law.

Army authorities have been contacted for initiating action against Major Hameed Rana.

The enquiry team has unearthed hidden assets and Benami property held by accused persons.

Numerous bank accounts, shares in various firms and companies and movable and immovable properties of the accused persons, and their associates have been placed under caution till the court’s final decision.

Published in The Express Tribune, December 22^nd, 2010.