Rs35b money-laundering: Zardari, Faryal to appear before FIA today

SECP orders removal of Hussain Lawai as PSX chairman BoD

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Staff Report
Karachi
Federal Investigation Agency (FIA) has summoned former president Asif Ali Zardari and his sister Faryal Talpur in FIA State Bank Circle to give their statement in connection with the Rs35 billion money-laundering case on Wednesday.
Notices were issued to the Pakistan People’s party (PPP) Co-chairman, Zardari and Faryal Talpur with reference to the money laundering case by FIA inspector Muhammad Ali Abro on Tuesday.
Both are summoned to record their statements regarding the case on July 11 in State Bank circle where both will be investigated.
The Securities and Exchange Commission of Pakistan (SECP) directed the Pakistan Stock Exchange Limited (PSX) to immediately remove Hussain Lawai as Chairman of the Board of Directors of PSX.
The SECP issued the direction considering facts that First Information Report (FIR) dated July 6, 2018, has been registered by the FIA under Pakistan Penal Code, Prevention of Corruption Act, 1947 and the Anti-Money Laundering Act, 2010, said a press release issued here Tuesday.
The said FIR, among other individuals, also nominated Lawai as one of the accused and the FIA has arrested him for further investigation.
In the interest of the public and the capital markets, the SECP has directed PSX to remove Hussain Lawai and appoint a new Chairman of the Board, while ensuring compliance with the regulatory requirements.
Earlier the Chief Justice Saqib Nisar took notice of the slow pace of enquiry into the fake bank accounts case, while hearing the case the Supreme Court on Monday ordered to place the names of Zardari, Faryal Talpur and others on the Exit Control List (ECL).
The top court also summoned the PPP co-chairman, his sister and others on July 12. The SC has also summoned the seven fake bank account holders and 13 beneficiaries on July 12.
The top court also directed the Sindh inspector-general of police (IGP) to ensure that all persons that have been summoned appear before the court.
Asif Zardari, Faryal Talpur, Tariq Sultan, Erum Aqeel, Muhammad Ashraf and Muhammad Iqbal Arain are among those who have been issued notices to appear before the top court on the given date.

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