ISLAMABAD, January 16: The Supreme Court (SC) on Wednesday ordered formation of a Joint Investigation Team (JIT) to probe alleged money laundering of at least Rs35 billion through fake bank accounts.
Moreover, further investigation into alleged fake accounts scam has revealed another company, namely M/s Landmark, allegedly owned by former president Asif Ali Zardari and his sister.
Resuming the hearing of the suo moto case, the three-member bench led by Chief Justice Saqib Nisar decided to form the JIT on the request of Federal Investigation Agency (FIA) Director General Bashir Memon, who said the FIA team lacked the capacity to make the probe more extensive.
The new investigation team will comprise representatives from the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), National Accountability Bureau (NAB), Federal Board of Revenue (FBR) and Inter-Services Intelligence (ISI).
However, it is yet to clear whether representatives of the Military Intelligence (MI) will be included in the JIT or not.
The members will be nominated by the apex court and the team will submit a fortnightly progress report to the Supreme Court. The Rangers will give protection to the JIT members who will probe into the matter in the province. The written order regarding formation of the JIT and Terms of References (ToRs) is yet to issue by the apex court.
When the bench on Wednesday inquired about reasons regarding the inclusion of members of intelligence agencies, the FIA DG said the FIA lacked technical expertise required to probe the matter.
Stressing serious security threats, Memon said the intelligence agencies’ support was needed keeping in view the prevailing situation in Sindh and behaviour of the accused.
Likewise, they have connection with the provincial government. “We have serious security threats,” he adds.
He also requested the top court to transfer the investigation and trial to Islamabad from Sindh.
“Have you received any threat from one of the accused?” asked Justice Umar Ata Bandial.
Later, the bench observed that the Rangers would be asked to provide security to the JIT members.
Justice Nisar also observed that the top court was in search of ‘angels’ who deposited and withdrew Rs35 billion from the fake accounts.
“We want to know who owned the money – where it came from and where it went. We are trying to ascertain the truth and find out that who got this money.”
Sustaining an objection raised by defence counsel Aitzaz Ahsan, the top court excluded FIA JIT head Najaf Mirza from the new investigation team.
Ahsan, Shahid Hamid and Farooq H Naek, the counsels for different respondents accused persons, raised separate objections over the formation of the new JIT.
However, the top judge remarked that the Supreme Court can constitute a JIT to ensure a transparent inquiry. “There are no impediments to stopping the Supreme Court from forming the JIT,” he added.
Justice Nisar also inquired why Majeed and his son Abdul Ghani Majeed should not be brought to Islamabad for medical checkup. Citing the Panamagate verdict and Article 10(a) of the Constitution, Shahid Hamid said the court could not go beyond as the matter was already under the FIA investigation.
He said the “Rs35 billion” figure was “vastly exaggerated” by the FIA and asked the top court to refrain from stamping on the agency’s request to form a JIT. “It will give a wrong perception in public eyes.”
The counsel stated that the media trial of his clients is going on as FIA comes with new report on every hearing, which publishes in the press.
The chief justice however said that they will not allow mudslinging as they may give observations about the media coverage in the matter.
“We are developing a new jurisprudence wherein an agency lacking expertise can seek assistance from other agencies,” said the CJP.
He also said it is a fundamental right of public that the looted money should be brought back, adding the Supreme Court may stop trial court proceedings in this matter.
When Justice Nisar inquired why defence was shying away from constituting the JIT, Ahsan said the top court ‘generally’ did not intervene in matters where a challan had been submitted in a trial court after the registration of FIR, adding the Supreme Court used same practice since 1977. Meanwhile, The Federal Investigation Agency (FIA) has discovered a company, namely M/s Landmark, which is owned by former president Asif Ali Zardari and his sisters.
“One of the hard disks during the raid at Ghotki was forensically analysed. The analysis discovered a company – M/s Landmark – which is a partnership firm between Asif Ali Zardari, Faryal Talpur and Azra Fazal. The firm is maintaining account: 12-31-20620-714-124781, at Summit Bank, DHA Phase Branch Karachi.
“The scrutiny of account reveals that the account was opened in 2013 and funds are deposited in the shape of pay orders of UBL and ABL under different individuals/CNIC available.-Agencies
