KARACHI: The court has sent Hussain Lawai, a close aide of former president Asif Ali Zardari, to jail on judicial remand in the money laundering case.
The private bank money laundering case came up for hearing before the court of South Karachi judicial magistrate on Saturday.
The Federal Investigation Agency (FIA) Lawai and Taha Hussain before the court.
The investigation officer took the plea that 47 bank accounts were used for money laundering. “More physical remand is required to investigate beneficiaries and other matters. Therefore, the physical remand of the accused be further extended,” he said.
The lawyers of the accused persons prayed the court to send their clients to jail on judicial remand.
The court, while rejecting the plea of the FIA for further extension in remand, sent both the accused to jail for 14 days.
In the first week of July, Lawai — an eminent banker and former head of Summit Bank — was arrested by the FIA in connection with the alleged bank transaction worth billions of rupees.
The investigation agency is probing a potential laundering scandal of Rs35 billion implicating a top political leader along with his businessman and banker friends. The inquiry started after the Financial Monitoring Unit of the State Bank of Pakistan generated a Suspicious Transaction Report in January this year about 10 bank accounts.