Asif Zardari’s remand extended till August 8 in Park Lane, fake bank accounts cases

ISLAMABAD: An accountability court has extended physical remand of former president Asif Ali Zardari till August 8 in fake bank accounts and Park Lane Estate Company cases, ARY News reported on Monday.

The Pakistan People’s Party (PPP) co-chairman was produced before Justice Muhammad Bashir.

As the hearing resumed, the National Accountability Bureau (NAB) Rawalpindi prosecutor pleaded with the court to extend Zardari’s physical remand for another 10 days.

However, Zardari’s defense counsel Latif Khosa pleaded with the court to extend the remand till August 19 due to Eid-ul-Azha holidays.

After hearing arguments from both sides, Justice Bashir remarked that the remand could only be extended for 15 days at one time.

On the other hand, medical reports of the former president were also presented in the court.

Earlier on July 19, the National Accountability Bureau (NAB) had filed Park Lane properties reference against the former president and Pakistan People’s Party (PPP) co-chairman Asif Ali Zardari.

According to the NAB, Zardari is accused of denting the loss of Rs 3.77 billion to the national exchequer.

Read more: NAB arrests Zardari in Park Lane Properties case

According to details, Asif Ali Zardari was allegedly for running a fake front company by the name of Parathon as a shareholder in Park Lane properties.

A loan worth Rs 1.5 billion was taken out from the bank and transferred to the company account in a private bank. It has also been revealed that he had forged documents to comply with the loan policy and coaxed the National Bank into loan approval.