ISLAMABAD, January 6: The joint investigation team (JIT), probing money laundering of several billion rupees from fictitious bank accounts in Pakistan, on Saturday recommended “freezing” all assets of Asif Ali Zardari, Faryal Talpur, and Zardari and Omni groups.
The case, against Zardari and several other individuals, pertains to laundering of around Rs220 billion through fictitious bank accounts.
The JIT submitted its recommendations with the Supreme Court of Pakistan. It recommended freezing Bilawal House, Karachi and Lahore, and Zardari House, Islamabad.
The investigation also urged for freezing of New York and Dubai properties owned by Zardari, alongside all five plots of Bilawal House in Karachi.
It recommended freezing all urban and agricultural lands owned by Zardari, Talpur, and the Zardari Group.
The investigation team also moved the apex court to order freezing of all assets of Omni Group, including sugar mills, agricultural companies and energy companies.
In its report, the JIT accused Zardari and Omni groups of irregularities in loans and government funds. The report said that both the groups transferred money out of country through ‘Hundi’ and ‘Hawala’.
It said the assets should remain frozen until a verdict in the multi-billion rupees money laundering case, expressing concerns that these assets might be transferred out of country.
The investigation team also requested the court to order Securities and Exchange Commission of Pakistan (SECP) not to change names of Zardari and Omni groups’ directors.
It further noted that Zardari established a ‘benami’ company through his front man Iqbal Memon, which was frozen in 1998.
However, the company was returned to Zardari in 2008 through Dr Dinshaw, the JIT stated in its report.-Agencies
