Friday, October 30, 2020

Pakistan: Zardari’s lawyer implicated in money laundering case

-

The Joint Investigation Team (JIT) – probing the Rs35 billion fake accounts scam – has implicated Pakistan Peoples Party senior lawyer Farooq H Naeek in the money laundering case.

The report says while probing into the affairs of M/s Orient Energy System, the JIT came across 13 remittances, including three from Spintex Textiles Trading LLC, Dubai, a Hawala entity from Dubai, amounting to $800,827 arriving in the account of Ibad Farooq Naek, son of Adv Farooq H Naek (Ref ANNEX-93 for transactions record) from 2011 to 2013, while Mr Farooq H Naek was the Senate chairman till March 12, 2012.

It is noted further that these payments were used for the purchase of plots no A-8 and 10-A at DHA, Karachi in the name of his wife Farzana Naek.

Apart from this, NAB Karachi is already probing the nexus between Farooq H Naek and the Sindh government in which an exorbitant amount of approximately Rs500 million has been paid by the law department (2014 to 2018) in various litigations to him.

- Advertisement -

Naek is still engaged by the Sindh government against the orders passed by the Supreme Court of Pakistan in CP NO 3054/2015 dated December 13, 2017, says the report.

Presently, Naek is representing Asif Ali Zardari and Faryal Talpur in this case, says the report.

- Advertisement -
- Advertisement -

MUST READ

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

South Korea’s former Vice Justice Minister sentenced to jail for bribery and sexual favors

Former Vice Justice Minister Kim Hak-eui, the figure at the center of one of Korea’s biggest political sex scandals, was placed under pretrial detention...

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Former Columbus mayor Eisenga charged with bank fraud

A former Columbus mayor and businessman who was once at the center of a controversial bill aimed at reducing child support payments for wealthy...

Former solicitors used 60 fake identities, homeless people to defraud banks

A married couple who are former solicitors created 60 false identities, donned disguises and paid homeless people for their PPS numbers in order to...

Indonesia sentenced stockbroker to life over fraudulent investment scheme

Renowned stockbroker Benny Tjokrosaputro was sentenced to life by the Jakarta Anticorruption Court on Monday evening for his role in a major graft scandal...

Taiwan’s UMC fined $60m for theft of trade secret to help Chinese chipmaker

Taiwan’s UMC has pleaded guilty to trade secret theft in the United States and will pay a $60 million fine in a case where...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks