General

NBP president, two others indicted in Ishaq Dar corruption case

The co-accused named in the supplementary corruption reference against former finance minister Ishaq Dar were finally indicted on Thursday after several adjournments.
The National Accountability Bureau (NAB) filed an interim reference against Dar in September last year on the Supreme Court’s directives in the Panama Papers case.
In a supplementary reference filed earlier this year, NAB named National Bank of Pakistan President Saeed Ahmed, Naeem Mehmood and Mansoor Rizvi as co-accused. The latter two have been identified as directors of one of Dar’s companies. All three are accused of aiding Dar in opening fictitious bank accounts and transferring money abroad.
During today’s hearing, Judge Mohammad Bashir read out the charges, to which the co-accused pleaded not guilty. All three suspects were present in court today.
Ahmed informed the court that he has challenged his indictment in the Supreme Court. However, the judge observed that the proceedings will continue until the apex court rules otherwise.
Moreover, during today’s proceedings, Rizvi submitted an unconditional apology in court over his counsel’s altercation with the judge at the last hearing. He informed the court that Javed Akbar Shah is no longer his legal representative.
The court then adjourned the hearing until April 11, when the prosecution has been directed to present its witnesses.
The former finance minister, who has been absconding in the case since October last year seeking medical treatment in London, has already been indicted in the case.
The case
Dar, a close aide of Pakistan Muslim League-N chief Nawaz Sharif, is accused of possessing assets disproportionate to his declared sources of income.
NAB filed an interim reference against Dar in September last year in light of the Supreme Court’s July 28, 2017, verdict in the Panama Papers case.
The recently-filed supplementary reference is based on seven volumes and includes the account details of the accused persons, with transactions amounting to $4.06 million, according to NAB’s Special Prosecutor Imran Shafiq.
Dar was re-elected to the Senate of Pakistan earlier this year.