ISLAMABAD: The Accountability Court (AC) has rejected the petition of former President Asif Ali Zardari against the jurisdiction of the National Accountability Bureau (NAB) in the Park Lane reference.
The accountability court, after hearing arguments from both sides, delivered its verdict today that the Park Lane case was being framed and Asif Ali Zardari would be indicted.
The Islamabad Accountability Court has decided to charge Zardari in the same case on 10th August. In the Park Lane reference, the former president is accused of causing a loss of Rs. 3.77 billion to the national treasury through fake bank accounts. Other accused in the reference are PPP Senators Usman Saifullah, Anwar Saifullah, and Saleem Saifullah.
The actual value of about 2,500 kanals of land purchased in Islamabad is Rs. 2 billion but it was bought for only Rs. 62 crore. The Park Lane reference was approved by the NAB chairman in July last year.
The reference filed against the PPP co-chairman and co-accused is 13 pages long. The text of the reference states that Park Lane Company made an anonymous property in Karachi through the Parthenon Private Limited.
Read more: Zardari’s indictment deferred in two NAB references
With the loan money, eight floors were constructed in IBC Centre. Initially, a loan of Rs. 1.5 billion was taken which increased to Rs. 4 billion.
Debt irregularities were committed and the accused conspired to damage the treasury. The Parthenon company has defaulted on non-repayment of loans.
Asif Zardari is also accused of buying 2,460 kanals of land in Islamabad through the Park Lane Company, while Bilawal Bhutto Zardari is also named in the case.
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