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Two NBP ex-presidents become approvers against Zardari

Two NBP ex-presidents become approvers against Zardari
July 29, 2020
ISLAMABAD (92 News) – A key progress in mega money laundering case as two former National Bank of Pakistan (NBP) presidents have become approvers in Park Lane reference against former president Asif Ali Zardari. Syed Ali Raza and Syed Qamar Hussian have been pardoned by National Accountability Bureau (NAB) Chairman Justice (r) Javed Iqbal over their testimonies. In the Park Lane reference, the NAB presented a list of 61 witnesses in the court. According to the investigation report, under Zardari's pressure, loan amounts were released which sent into fake accounts. On the other hand, during the hearing on a plea seeking dismissal of Park Lane reference against Asif Ali Zardari, NAB has submitted a pay order of transferring money into bank accounts of rickshaw owner and faloda seller. The bureau said that Rs20 crore was transferred to rickshaw owner account with name of Dream Trading while another Rs20 crore was sent into the account of faloda seller with the name of Ocean Enterprises. Both rickshaw owner and faloda seller have already appeared before the court for testimonies. White collar crimes are being carried out in such a way to avoid suspicion, NAB stated.
Case history
M/s Park Lane Estate Company (Pvt) Ltd and others on the allegation of illegal transfer of land measuring 118K-14M of compartment No. 34 & 35 of Punjab Forest Department by CDA officials to M/s Park Lane Estate Company (Pvt) Ltd. According to Securities and Exchange Commission of Pakistan’s (SECP) record, Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari and former president Asif Ali Zardari are 50 per cent shareholders of M/s Park Lane Estate Co (Pvt) Ltd. During the course of investigation, it was revealed that the revenue officers, in connivance with CDA officers, on application from M/s Park Lane Estate Company (Pvt) Ltd, illegally extended undue benefit to M/s Park Lane Company (Pvt) Ltd through demarcation and handing over possession of 118K-14M forest land. The revenue officers, in order to extend an illegal favour to M/s Park Lane, forged and tampered the revenue record while on the other hand, the CDA officers, by misusing their authority, handed over the possession of the state land to M/s Park Lane Estate. The manager, attorney holder and director of M/s Park Lane Estate Company (Pvt) Ltd were repeatedly summoned, however, they willfully avoided joining the proceedings of the anti-graft body.