Daily Times

KARACHI: The Federal Investigation Agency (FIA), which implicated the country’s top stock brokerage house AKD Securities in the EOBI-Amtex case, has suffered another setback as the State Bank of Pakistan has categorically refused to share any classified information with it about the AKD Group, sources said. Desperately seeking evidence against AKD Securities in the case, FIA high-ups had written a letter to the State Bank a few days back seeking inside information about AKD Securities. The central bank, however, refused to share any classified information with FIA. Consequently, FIA officials investigating the case have failed to present any evidence against AKD Securities except a non-relevant research report. Securities and Exchange Commission of Pakistan had already taken back its support to FIA Director Shahid Hayat and asked him to bear the brunt of the investigation in the case and find out evidences against AKD’s three senior officials in judicial custody after the FIA was denied another remand following its failure to submit any proof of guilt. SECP officials too were surprised over the stance of the FIA director that he let the real culprits in the case roam free and picked up innocent officials of the AKD Group. All the factions concerned were surprised over the fact that instead of carrying out investigations against the JS Group in over a dozen cases of fraud and forgery, including Azgard 9, FIA is implicating innocent people in false cases, sources added.