Pakistan

Dr. Asim transfers all assets to son

KARACHI: Former federal minister Dr. Asim Hussain, currently under custody on charges of corruption, has handed over all his assets to his son, who happens to be a Canadian national, ARY News reported. 

On April 25, Dr. Hussian had requested the court to allow him to visit the United Arab Emirates (UAE) Embassy, to ‘get a few documents signed’. He was permitted and the ex-minister visited the embassy and signed some documents therein.

The documents signed by Hussain were Power of Attorney, by means of which he transferred all his holdings to his Canadian national son Imaad Hussain. This assets included his bank accounts, bonds, shares, plots and business rights.

The former minister for Petroleum & Natural Resources, who is now under custody for involvement in a multi-billion corruption scam, has reportedly admitted to accumulating wealth by means of foreign companies and corruption during interrogation by law enforcement agencies.

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