ISLAMABAD: An accountability court on Friday indicted former Securities and Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi on charges of tampering with the record of Sharif family’s Chaudhry Sugar Mills.
Special judge Irum Niazi read out charges against the accused in his presence, saying he tampered with the record of Chaudhry Sugar Mills and exerted undue pressure on his subordinates in this regard.
Hijazi denied all charges against him and told the court that he did not alter the company’s record.
The former SECP chairman, who is out on bail, has been booked in the case in the wake of the Supreme Court’s order in the Panama Papers case for allegedly tampering with financial records of the Sharif family’s company.
The Federal Investigation Agency took Hijazi into custody in July, after a report released by the Panamagate Joint Investigation Team (JIT) alleged that the former SECP chairman had altered records related to the Chaudhry Sugar Mills.
It found chairman SECP Zafar Hijazi guilty of record tampering and recommended criminal proceedings against him and two of his subordinates – Ali Azeem and Maheen Fatima – under Section 466, 472, PPC read with 5(2) Prevention of Corruption Act (PCA) 1947.
SECP Director Maheen Fatima had accused the SECP chairman of exerting pressure on her to blame the Panamagate JIT of misbehaving with her during an interrogation session.
In her statement to the probing team, she asserted that the money laundering investigation against Chaudhry Sugar Mills was closed on the chairman’s directives.
The director had further accused the chairman of threatening her with dire consequences including transfer to Gilgit-Baltistan on defiance of his orders.
The Panamagate JIT had previously complained to the top court that SECP had allegedly tampered with the record, apparently to favour the Sharif family who owns the Chaudhry Sugar Mills.