Zardari, Talpur's interim bail extended in money laundering case

06:11 PM | 10 Dec, 2018
Zardari, Talpur's interim bail extended in money laundering case
KARACHI - A banking court on Monday extended the interim bail of former president Asif Ali Zardari and his sister, Faryal Talpur, till December 21 in an ongoing money laundering case.

The co-chairman of Pakistan Peoples Party and Talpur appeared before the court as the interim bail granted to them expired today.

Onmi Group Chairman Anwar Majeed's sons Nimr Majeed and AG Majeed also appeared before the banking court in Karachi.

As the hearing went underway, the investigation officer informed the court about the progress made in the case while Zardari and Talpur's counsel requested for an extension in the interim bail; the court approved the request and extended their interim bail till December 21.

During today's hearing, Zardari also met AG Majeed with former president's guards guarding both, stopping anyone else to get close.

Former Pakistan Stock Exchange chairman Hussain Lawai, Onmi Group Chairman Anwar Majeed and his son Abdul Ghani Majeed are also suspects in the case pertaining to money laundering through fake bank accounts.

Money Laundering Probe

The high profile money laundering case was initially registered in 2015 against former Pakistan Stock Exchange chairman Hussain Lawai, who is widely believed to be a friend of former president Zardari.

Later, seven individuals, including Zardari and Talpur, were said to have been found involved in using those accounts for suspicious transactions which totalled Rs35 billion. The accounts were allegedly used to channel funds received through kickbacks.

Lawai and banker Taha Raza were also detained and booked for allegedly facilitating the opening of 29 ‘fake’ accounts through which the money was allegedly laundered through different companies, including M/s Zardari Group.

Talpur had also obtained an interim pre-arrest bail in the case after depositing a surety bond worth Rs2 million.

Both the siblings are facing corruption charges relating to fake accounts and fictitious bank transactions that they had illegally channelled funds through the said accounts in connivance with the chief executive officers of major banks.

In August, the duo also appeared before a joint investigation team of the Federal Investigation Agency (FIA) in Islamabad to record their statement in the multi-billion rupee money laundering and fake bank accounts case open against them.