Daily Times

KARACHI: The legal team of former President Asif Ali Zardari presented its reply to the Federal Investigation Agency (FIA) today in the case pertaining to the Rs35 billion money-laundering.

The reply stated that Asif Ali Zardari and his sister Faryal Talpur will appear before the investigation team after the July 25 as both are nominated to contest in upcoming general elections.

The sources reported that after the scam came into limelight Pakistan Peoples Party (PPP) leaders consulted senior lawyers, over summon notice issued to Zardari by the FIA, and advised him against appearing before the investigative agency.

Earlier this week, the court had ordered to place the names of the Pakistan Peoples Party (PPP) chairman and his sister on the Exit Control List (ECL).

Previously, the FIA registered a case in Karachi over a money laundering scandal of Rs35 billion, implicating 32 people, ranging from politicians, businessmen to Bankers.

The agency has already arrested chairman Stock Exchange of Pakistan Hussain Lawai, who is considered to be a close aide of Zardari.

Moreover, the team headed by Additional DG FIA Dr. Najaf Mirza comprised of seven-member joint investigation team (JIT) to probe the matter.

Seven members of the JIT are, Director FIA Punjab Dr. Usman Anwar, Director FIA Sindh Muneer Ahmed Sheikh, Additional Director Banking Circle Karachi Faizullah Korejo, Deputy Director FIA Sindh Ali Mardan Khoso and two deputy directors of FIA Punjab, Chaudhry Mohammad Ahmed and Khalid Anis.

The FIA initiated the inquiry when in January the financial monitoring unit of the State Bank of Pakistan generated a suspicious transaction report regarding ten bank accounts. From 2013 to 2015, over 20 ‘benami’ accounts were opened at private banks through which transactions worth billions were made.

According to FIA, the money was gathered through illicit means. And despite transactions worth millions and billions, the banks never reported the matter to the concerned authorities.