Pakistan's anti-graft body summons US envoy in corruption case

LAHORE: Pakistan's anti-graft frame has summoned the rustic's envoy to the USA Ali Jahangir Siddiqui to question him for allegedly paying Rs 15 crore in bribe to a most sensible govt authentic to get the plum diplomatic post, a senior authentic mentioned on Thursday.

Ambassador Siddiqui has been issued a notice to appear prior to the National Accountability Bureau (NAB) on October 19.

"The National Accountability Bureau (NAB) Lahore has summoned Siddiqui for October 19 after a transaction of Rs 15 crore between him and former principal secretary to prime minister Fawad Hasan Fawad has surfaced," a senior authentic of the anti-corruption watchdog informed .

He mentioned an investigation into Fawad's income past approach case published that Siddiqui had paid him Rs 15 crore in bribe to get approval from former Prime Minister Shahid Khaqan Abbasi for his (Siddiqui) appointment as ambassador to the USA.

"The NAB has summoned Siddiqui to quiz him on October 19 at its Lahore office in relation to the charges that he transferred Rs 15 crore into the account of Fawad to get the ambassadorship," the authentic mentioned.

He mentioned the NAB had additionally termed Siddiqui's reply in any other case of inventory manipulation "unsatisfactory".

"The NAB will also quiz him regarding the alleged role of his company - M/s Azgard Nine Limited (ANL) - in the manipulation of shares that caused losses of billions of rupees to the national exchequer," the authentic mentioned.

The NAB is probing affairs of the ANL in regards to siphoning off price range amounting to over Rs 200 crore in 2008, that have been used to purchase an Italian Company Monte Bello SRL.

Foreign company Fairtal SRL, Sweden, was once used for the deal, which suffered losses along with its shareholders.

There also are allegations that the shares of a company named Agritech Limited have been sold to more than a few financial and govt establishments at a worth higher than the marketplace price to settle mortgage defaults, leading to a lack of Rs 4000 crore to more than a few financial and govt establishments, the NAB mentioned.

The most sensible anti-graft agency has additionally gained an investigation report from the Securities and Exchange Commission of Pakistan (SECP), which looked into this situation about a decade ago.

The Pakistan Stock Exchange (PSX) has additionally reportedly equipped details of a trade deal and a shares transaction through the ANL and Agritech Limited.

According to the SECP report, the ANL had indulged in "active manipulative trading" all the way through the evaluate duration (2007-08).

In its report titled "On the manipulative and other prohibitive activities into ANL 2007-08", the SECP concluded that the JS Group had orchestrated a scheme of manipulation within the scrip (primarily referred to as a report acknowledging debt) of the ANL all the way through the duration beneath evaluate.

The ruling Pakistan Tehreek-e-Insaf had previous lambasted former Prime Minister Abbasi for appointing Siddiqui for the diplomatic post, mentioning nepotism.
Pakistan's anti-graft body summons US envoy in corruption case Pakistan's anti-graft body summons US envoy in corruption case Reviewed by Kailash on October 11, 2018 Rating: 5
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