SC acquits NICL former chairman Ayaz Niazi, co-accused in corruption case
ISLAMABAD (92 News) – The Supreme Court of Pakistan on Tuesday acquitted National Insurance Company Limited (NICL) former chairman Ayaz Khan Niazi and all co-accused in the corruption case.
The co-accused, including Hur Gardezi, Amin Qasim Dada, Ameer Hussain and Muhammad Zahoor, have been accused.
The court rejected the NAB appeals against the acquittal of the accused.
An accountability court in Karachi had sentenced Ayaz Khan Niazi and five other people to seven years in prison for their involvement in a corruption case. The convicts were also declared unfit to hold any public office for 10 years. Apart from Niazi, the other convicts are Amin Qasim Dada, Hur Rihai Gardezi, Amir Hussain, Zahid Hussain and Muhammad Zahoor.
On November 8, a two-member bench of the Sindh High Court (SHC) headed by Justice Iqbal Kalharo had overturned the verdict of an accountability court which acquitted former NICL chairperson Ayaz Khan Niazi.
The NICL corruption scandal revolves around the alleged misuse of authority during Niazi's appointment, hampering the investigation process regarding his appointment and corruption committed by the accused along with others, including Mohsin Habib Warraich.
The story of over Rs6 billion NICL scam surfaced in 2009-10 when Mohsin Warraich’s company, Messrs Privilege, had purchased 803 kanals from the NICL at Mauza Toor, Lahore, for Rs1.68b. The company allegedly sold the land without getting the property mutated in its favour.
NICL funds were also embezzled in the purchase of 10 acres of land in Korangi.
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