The news is by your side.

NAB files supplementary reference against Zardari in Park Lane case

ISLAMABAD: The National Accountability Bureau (NAB) on Tuesday filed a supplementary reference against former president Asif Ali Zardari and 19 other suspects in Park Lane case, ARY News reported.

In its reference, the anti-corruption watchdog has alleged that Zardari got a loan of Rs1.5 billion released for another of his front company and the money was later transferred for his personal use through fake bank accounts.

According to NAB, Security and Exchange Commission of Pakistan (SECP) officials had assisted Pakistan Peoples Party (PPP) co-chairman Asif Ali Zardari in Park Lane agreements and preparation of fake documents.

The anti-graft watchdog stated that loan was obtained on forged documents and later the company refused to pay back an Rs1.5 billion loan that eventually became Rs3.77 bn due to interest.

According to a reference, Asif Ali Zardari and his son Bilawal Bhutto had 25 percent shares each in the Park Lane company.

Three more suspects have been included in the supplementary reference while more people have agreed to become approver against  Zardari.

NAB accused the former president of causing the national exchequer a loss of Rs3.77 billion

On August 10, the Accountability Court had indicted Pakistan Peoples’ Party (PPP) co-chairman and former president in Park Lane case.

The hearing was conducted by AC Judge Azam Khan. Asif Ali Zardari, Anwar Majeed along with nine accused were indicted in the reference via video link hearing.

Read More: Asif Ali Zardari indicted in Park Lane reference

Zardari joined the indictment proceedings via video link from Bilawal House Karachi, Anwar Majeed from a hospital in Karachi while three other accused, Farooq Abdullah, Hanif, and Saleem Faisal joined the video link proceedings from Karachi.

The accused refused to accept the charge sheet and termed it baseless.



You might also like