.Was minister of state’s foreign exchange firm financing terrorists war on Pakistan?
ISLAMABAD: FIA authorities are grappling with the alarming possibility of a large part of the Rs 15 billion laundered through the forex firm of minister Raziq having been dispensed to the volatile tribal areas during the past seven months. The billions were transferred from the 21 secret bank accounts in nine private banks of Lahore by the three employees of Malik Exchange owned by the Minister of State, Abdul Raziq.
The Minister of State for Kashmir and Northern Areas, Abdul Raziq was elected Senator as an independent and himself belongs to the Fata and was rewarded with a ministerial slot for lending his support to the PPP government at the Centre.
Talking to The News, DG FIA Tariq Khosa mincing no words said, “This not only a national issue as there are international dimension of this forex scam too”. Khosa said the “outward diversion of these billions from the accounts of three employees of Malik Exchange is worrisome for me. It’s a matter of further inquiry at this stage if this money was also being sent to Afghanistan”.
However, to a question, the DG FIA said that at this stage he was not sure whether these billions were being used to finance terrorism in those areas through Hundi and Hawal business based in Lahore, as he believed only further inquiry would help the investigators answer this scary question.
What was earlier being viewed by investigators as just another massive illegal fund transfer operation is now being investigated as a serious national security threat after it was revealed that billions of rupees were being quietly transferred from the 21 secret bank accounts to the tribal areas where the forces are fighting a full blown war against the militants.
In private conservations with this correspondent, official sources told that out of a colossal Rs20 billions transactions from the accounts during last seven months, about 80 percent of the amounts were found to have been sent to the troubled tribal areas. Sources in FIA Lahore Circle said the investigators are not precluding the very real possibility of billions of rupees having been sent to Afghanistan and other troubled areas of the country.
Meanwhile, Malik Exchange did not produce its three employees -- Imtiaz Khan, Iqbal Afridi and Fayaaz Khan in the banking court on Friday -- against whose names 21 secret bank accounts have been traced. They were supposed to appear in the court to get their pre arrest bails confirmed. These employees were said to have not been produced in the court fearing that their bails might be cancelled in the light of evidence already available with the FIA team. The court has allowed them five days to appear before the judge on June 25 for the confirmation of bails. FIA pleas to get their bails cancelled after they did not appear in the court in person to get their pre arrests confirmed, were, however, rejected by the court. The court was told that these three employees were presently in the NWFP and they could not come to appear in the court because of the law and order situation.
“I can’t make any comment on the conduct of the court”, said DG FIA Tariq Khosa when approached for comment about the court proceedings in Lahore after the court decided to give five days to the accused to appear before the judge to either get their bails confirmed or cancelled.
He said these three employees had shown themselves as the owners of oil, car or property dealers, builders, constructors to get their corporate bank accounts opened with these nine banks. He said over Rs15-20 billions were found to be credited in these 21 secret accounts. He said now for him the most worrisome thing was the direction of this money.
The Minister, Senator Abdul Razik, has already denied his forex company’s involvement in any illegal activities or transactions as being alleged by FIA team. However, this correspondent tried to talk to him on the fresh revelation about the role of his forex firm employees in money laundering to tribal areas or even Fata, but he refused to take the telephone call.
A close aide of the minister, however, said the allegation of the money being sent to the tribal areas was totally without foundation. He said those levelling this allegation has vested interests against the minister. He said Malik Exchange was ready for a full-fledged probe in its affairs as it conducted its business within the norms of law.
A senior FIA official said that there was a possibility that the Malik Exchange did not know the purpose of these amounts being transferred through its employees in the tribal areas as they were just doing business and only interested in earning their profit from such doubtful transactions through fake bank accounts.
The sources said 80 percent amounts so far sent from these secret bank accounts of three employees of the Malik Exchange had been sent to Parachanar, Hangu and other troubled areas of the country. While only 5 percent amounts were distributed within Lahore and rest of the 15 percent was sent to different areas of Kashmir.
To a question, the sources said if this was the genuine money transfer from abroad by relatives of the people living in these tribal areas, then why were they not using the money exchange dealers of Peshawar or even Islamabad, which were nearer to them instead of Lahore.
The News
The Minister of State for Kashmir and Northern Areas, Abdul Raziq was elected Senator as an independent and himself belongs to the Fata and was rewarded with a ministerial slot for lending his support to the PPP government at the Centre.
Talking to The News, DG FIA Tariq Khosa mincing no words said, “This not only a national issue as there are international dimension of this forex scam too”. Khosa said the “outward diversion of these billions from the accounts of three employees of Malik Exchange is worrisome for me. It’s a matter of further inquiry at this stage if this money was also being sent to Afghanistan”.
However, to a question, the DG FIA said that at this stage he was not sure whether these billions were being used to finance terrorism in those areas through Hundi and Hawal business based in Lahore, as he believed only further inquiry would help the investigators answer this scary question.
What was earlier being viewed by investigators as just another massive illegal fund transfer operation is now being investigated as a serious national security threat after it was revealed that billions of rupees were being quietly transferred from the 21 secret bank accounts to the tribal areas where the forces are fighting a full blown war against the militants.
In private conservations with this correspondent, official sources told that out of a colossal Rs20 billions transactions from the accounts during last seven months, about 80 percent of the amounts were found to have been sent to the troubled tribal areas. Sources in FIA Lahore Circle said the investigators are not precluding the very real possibility of billions of rupees having been sent to Afghanistan and other troubled areas of the country.
Meanwhile, Malik Exchange did not produce its three employees -- Imtiaz Khan, Iqbal Afridi and Fayaaz Khan in the banking court on Friday -- against whose names 21 secret bank accounts have been traced. They were supposed to appear in the court to get their pre arrest bails confirmed. These employees were said to have not been produced in the court fearing that their bails might be cancelled in the light of evidence already available with the FIA team. The court has allowed them five days to appear before the judge on June 25 for the confirmation of bails. FIA pleas to get their bails cancelled after they did not appear in the court in person to get their pre arrests confirmed, were, however, rejected by the court. The court was told that these three employees were presently in the NWFP and they could not come to appear in the court because of the law and order situation.
“I can’t make any comment on the conduct of the court”, said DG FIA Tariq Khosa when approached for comment about the court proceedings in Lahore after the court decided to give five days to the accused to appear before the judge to either get their bails confirmed or cancelled.
He said these three employees had shown themselves as the owners of oil, car or property dealers, builders, constructors to get their corporate bank accounts opened with these nine banks. He said over Rs15-20 billions were found to be credited in these 21 secret accounts. He said now for him the most worrisome thing was the direction of this money.
The Minister, Senator Abdul Razik, has already denied his forex company’s involvement in any illegal activities or transactions as being alleged by FIA team. However, this correspondent tried to talk to him on the fresh revelation about the role of his forex firm employees in money laundering to tribal areas or even Fata, but he refused to take the telephone call.
A close aide of the minister, however, said the allegation of the money being sent to the tribal areas was totally without foundation. He said those levelling this allegation has vested interests against the minister. He said Malik Exchange was ready for a full-fledged probe in its affairs as it conducted its business within the norms of law.
A senior FIA official said that there was a possibility that the Malik Exchange did not know the purpose of these amounts being transferred through its employees in the tribal areas as they were just doing business and only interested in earning their profit from such doubtful transactions through fake bank accounts.
The sources said 80 percent amounts so far sent from these secret bank accounts of three employees of the Malik Exchange had been sent to Parachanar, Hangu and other troubled areas of the country. While only 5 percent amounts were distributed within Lahore and rest of the 15 percent was sent to different areas of Kashmir.
To a question, the sources said if this was the genuine money transfer from abroad by relatives of the people living in these tribal areas, then why were they not using the money exchange dealers of Peshawar or even Islamabad, which were nearer to them instead of Lahore.
The News
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