NAB chief approves filing of Park Lane properties reference against Zardari

ISLAMABAD: National Accountability Bureau Chairman Justice (Retd) Javed Iqbal accorded approval for filing of reference against former president Asif Ali Zardari in Park Lane Properties case.

During the executive board meeting of the bureau on Wednesday, the NAB chief consented to file the reference, against the Pakistan Peoples Party co-chairman, which incurred the loss of Rs 3.77 billion to the national exchequer.

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.

The charges entail that the former president took out a loan from the National Bank of Pakistan in the name of Parathon.

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.

Zardari is already under the custody of NAB for being an accused in the fake bank accounts case.

Earlier, the PPP leader had moved the Sindh High Court over the Park Lane Company issue on April 16.