Daily Times

Lawyers on Wednesday cross-examined head of the Joint Investigation Team (JIT) in Panama Papers case and prosecution witness Wajid Zia in Ishaq Dar assets case.

According to reports, the witness, during cross-examination by the defence lawyers, said that there was evidence about transactions in foreign banks.

Wajid Zia said that the JIT had investigated transactions made through Emirates, al-Taufiq and Al-Baraka banks.

The court adjourned the hearing of the case until May 15 after the counsel for co-accused Saeed Ahmed completed his cross-examination of the witness.

Wajid Zia had recorded his statement in assets beyond known sources of income reference against former finance minister Ishaq Dar in the accountability court in the previous hearing.

The key prosecution witness informed the court in his statement that the assets of Ishaq Dar had increased by 91 times between the years 1991 and 2008.

He said the JIT recorded the statement of then National Bank of Pakistan president Saeed Ahmed, who didn’t deny the accounts in various banks. Saeed Ahmed admitted that all accounts in foreign banks were opened on the instructions of Ishaq Dar, Wajid Zia told the court. He said accounts were also opened in the name of Hajveri Mazarba, and that Saeed Ahmed had told the JIT that he issued cheque books to accused Naeem Ahmed on the instructions of Dar. Naeem Ahmed was an employee of the Hajveri Mazarba.

A reference was filed by the National Accountability Bureau (NAB) against Ishaq Dar following the Supreme Court’s July 28 verdict in the Panama Papers case.