ahlam1399
05-19-2016, 06:55 AM
KARACHI: The Federal Anti-Corruption Court (FACC) has fixed June 8 to hear the Amtex-EOBI fraud case.
The FACC, headed by Hafeeza Usman, is also hearing bail pleas of the accused. The court has **w fixed May 30 to hear further arguments on the bail pleas. Former director-general of Employees Old-Age Benefits Institution (EOBI), Khursheed Wahid Kunwar, in Amtex-EOBI fraud case is also amongst the accused facing fraud case.
Previously, Advocate Najeeb Jamali contested the bail case of Kunwar, while two public prosecutors, Bakhtiar Channa and Nisar Ahmed Tarrar, represented the prosecution opposing the granting of bail to Kunwar. **w, Malik Mumtaz represented the state, whereas Shahab Sarki and other attorneys represented the accused.
Former EOBI managing director Imtiaz Ahmed is also facing this fraud case along with Kunwar and three of the AKD Securities directors. The three AKD officials, AKD Securities Chief Executive ******r (CEO) Farid Alam and two directors, Muhammad Iqbal and Tariq Adam, were present in the court.
The three accused have recently obtained bail from the Supreme Court. Imtiaz Ahmed and Khursheed Wahid Kunwar are in judicial custody. Imtiaz Ahmed and others are alleged to have caused around Rs290 million losses to the EOBI by having collaborated illegally with the AKD Securities.
As many as 18 accused are absconding, and the court has been directing the investigation ******r (IO) to arrest all the accused and produce them in the court. On January 12, 2016, three accused involved in EOBI corruption cases were sent to the central prison on judicial remand by the FACC.
When the three accused, AKD Securities CEO Farid Alam and directors Muhammad Iqbal and Tariq Adam, were produced before the anti-corruption court concerned, the judge had inquired from the investigation ******r (IO) about the failure in arresting the other 19 accused involved in misappropriation of millions of rupees by preparing fake documents.
The IO said that the other accused had been settled in Lahore and Faisalabad. He said that efforts were being made to arrest the other accused. The court had ordered arrest of all the accused and submission of final charge-sheet against the accused in the case.
The accused are involved in misappropriation of huge funds that caused a loss of around Rs290 million to the national exchequer under shares of the EOBI. The accused, Farid Alam, CEO of AKD Securities, Tariq Adam, Director and Head of Equity Operations, AKD Securities, and Muhammad Iqbal, a**ther director of the AKD Group, had been taken into custody by the FIA during a raid on the company ******s on January 4.
It may be mentioned here that the National Accountability Bureau (NAB) during the previous government had started investigating the matters of illegal construction of an up-market housing scheme, namely, Naya Nazimabad, on valuable state land, the fraudulent property deal between Pakistan Petroleum Limited (PPL) and the AKD Group, construction of an irregular multi-storey building, Arkadians Towers, and the Ogra corruption case against the AKD Group.
It is said that NAB had forwarded a letter directing the Bureau’s director-general in Karachi to initiate an inquiry into complaints of massive corruption against a certain businessman (Aqeel Karim Dhedhi).
http://feeds.feedburner.com/~r/com/YEor/~4/Ls4OCnS80FI
أكثر... (http://feedproxy.google.com/~r/com/YEor/~3/Ls4OCnS80FI/121090-Court-fixes-June-8-to-hear-Amtex-EOBI-fraud-case)
The FACC, headed by Hafeeza Usman, is also hearing bail pleas of the accused. The court has **w fixed May 30 to hear further arguments on the bail pleas. Former director-general of Employees Old-Age Benefits Institution (EOBI), Khursheed Wahid Kunwar, in Amtex-EOBI fraud case is also amongst the accused facing fraud case.
Previously, Advocate Najeeb Jamali contested the bail case of Kunwar, while two public prosecutors, Bakhtiar Channa and Nisar Ahmed Tarrar, represented the prosecution opposing the granting of bail to Kunwar. **w, Malik Mumtaz represented the state, whereas Shahab Sarki and other attorneys represented the accused.
Former EOBI managing director Imtiaz Ahmed is also facing this fraud case along with Kunwar and three of the AKD Securities directors. The three AKD officials, AKD Securities Chief Executive ******r (CEO) Farid Alam and two directors, Muhammad Iqbal and Tariq Adam, were present in the court.
The three accused have recently obtained bail from the Supreme Court. Imtiaz Ahmed and Khursheed Wahid Kunwar are in judicial custody. Imtiaz Ahmed and others are alleged to have caused around Rs290 million losses to the EOBI by having collaborated illegally with the AKD Securities.
As many as 18 accused are absconding, and the court has been directing the investigation ******r (IO) to arrest all the accused and produce them in the court. On January 12, 2016, three accused involved in EOBI corruption cases were sent to the central prison on judicial remand by the FACC.
When the three accused, AKD Securities CEO Farid Alam and directors Muhammad Iqbal and Tariq Adam, were produced before the anti-corruption court concerned, the judge had inquired from the investigation ******r (IO) about the failure in arresting the other 19 accused involved in misappropriation of millions of rupees by preparing fake documents.
The IO said that the other accused had been settled in Lahore and Faisalabad. He said that efforts were being made to arrest the other accused. The court had ordered arrest of all the accused and submission of final charge-sheet against the accused in the case.
The accused are involved in misappropriation of huge funds that caused a loss of around Rs290 million to the national exchequer under shares of the EOBI. The accused, Farid Alam, CEO of AKD Securities, Tariq Adam, Director and Head of Equity Operations, AKD Securities, and Muhammad Iqbal, a**ther director of the AKD Group, had been taken into custody by the FIA during a raid on the company ******s on January 4.
It may be mentioned here that the National Accountability Bureau (NAB) during the previous government had started investigating the matters of illegal construction of an up-market housing scheme, namely, Naya Nazimabad, on valuable state land, the fraudulent property deal between Pakistan Petroleum Limited (PPL) and the AKD Group, construction of an irregular multi-storey building, Arkadians Towers, and the Ogra corruption case against the AKD Group.
It is said that NAB had forwarded a letter directing the Bureau’s director-general in Karachi to initiate an inquiry into complaints of massive corruption against a certain businessman (Aqeel Karim Dhedhi).
http://feeds.feedburner.com/~r/com/YEor/~4/Ls4OCnS80FI
أكثر... (http://feedproxy.google.com/~r/com/YEor/~3/Ls4OCnS80FI/121090-Court-fixes-June-8-to-hear-Amtex-EOBI-fraud-case)