Pakistan’s ex-president Asif Zardari named in money-laundering case

Former Pakistani president Asif Ali Zardari listens to his son and chairman of the Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari (unseen) during the party manifesto presentation for the forthcoming general election during a press conference in Islamabad on June 28, 2018. (AFP)
Updated 08 July 2018
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Pakistan’s ex-president Asif Zardari named in money-laundering case

  • The inclusion of former president’s name, Zardari, in the case signifies pre-poll rigging, says his spokesperson, Farhatullah Babar
  • Pakistan People’s Party’s election campaign has been spearheaded by Zardari’s son, Bilawal Bhutto

KARACHI: The Federal Investigation Agency (FIA) on Saturday obtained the remand of Hussain Lawai, Chairman Central Depository Company (CDC) and a close aide of Pakistan’s former president, Asif Ali Zardari, after registering a case against him and others for using a fake account to launder Rs35 billion ($288 million).
According to a case registered by FIA’s Banking Circle Karachi, the former president and leader of the Pakistan People’s Party, Asif Ali Zardari, and his sister, Faryal Talpur, are among 13 people who benefited from the arrangement.
The police first investigation report (FIR) says that M/S Zardari Group (Asif Ali Zardari, Faryal Talpur, etc) got Rs15,000,000 and were among the beneficiaries of the transaction trail of fake bank accounts maintained by Omni Group, owned by Anwar Majeed, another close aide of the former president.
Different entities owned by Majeed can be found in the list of depositors and beneficiaries of the fake bank account maintained in the name of a citizen without his approval.
The FIR found that one of the depositors in the fake account turned out to be M/S Bahria Town Karachi project and Zain Malik, who had deposited Rs750,000,000. Both Malik and the spokesperson of his Bahria Town Karachi project did not respond to Arab News’ requests for a comment.
Muhammad Ali Abro, assistant director of FIA’s Karachi Banking Circle, informed the local magistrate that during the inquiry into the suspicious transaction of 29 accounts, it was established that one of them was fraudulently opened in the name of Tariq Sultan by using his national identity card.
“This account was subsequently used to place illegitimate funds for purposes of money-laundering,” reads the FIR, a copy of which is available with Arab News.
According to the FIA, when Sultan denied he had opened the account, the agency started conducting its inquiry and the signatures on bank documents were found to be forged.
The FIA obtained the money trail and interviewed those involving the opening of a fake account, leading the agency to conclude that Hussain Lawai, the then chairman of Summit Bank, had ordered the opening of the fake account for money-laundering purposes. According to the agency, the investigation of another 28 accounts is under way.
Pleading not guilty out of the court of the local magistrate, Lawai told the media he did not know if he was arrested because of Asif Ali Zardari. “Only time will tell why I have been targeted,” he said.
An FIA spokesperson told Arab News that the offense had occurred between 2014 and 2015. However, the Pakistan People’s Party and independent analysts have been questioning the timings of the investigation and arrest for different reasons.
“Asif Ali Zardari has also been maligned in the past. I am really not surprised to see his name in the FIR,” Farhatullah Babar, former president’s spokesperson, told Arab News.
“To me, this seems to be part of pre-polls rigging. Zardari spent 11 years in jail without conviction. The present bubble will also burst into nothingness,” he added.
Senior analyst Mazhar Abbas claimed the appearance of Zardari’s name in the money-laundering case seemed to be an effort to dispel the impression that federal institutions such as the National Accountability Bureau (NAB) and Federal Investigation Agency (FIA), had only singled out the former prime minister, Nawaz Sharif.
“In the foreseeable future, we may also see action against the former president-general, Pervez Musharraf,” Abbas told Arab News.
Fazil Jamili, another Karachi-based political analyst, maintained that the FIR was part of the establishment’s minus-one formula, which, he said, was being applied to all major political parties. “After minus-Altaf and minus-Nawaz, it seems to be Asif Ali Zardari’s turn,” he said.
He added: “This is a significant development and may produce negative election results for PPP since it is likely to damage the party’s credibility.”
As the situation stands, the former president’s son, Bilawal Bhutto-Zardari, is running his party’s election campaign and addressing public rallies in the provinces of Sindh and Punjab. 




Copy of the FIR by the Federal Investigation Agency that names Pakistan’s former president, Asif Ali Zardari, and his sister in a fake account to launder Rs35 billion.




Copy of the FIR by the Federal Investigation Agency that names Pakistan’s former president, Asif Ali Zardari, and his sister in a fake account to launder Rs35 billion.




Copy of the FIR by the Federal Investigation Agency that names Pakistan’s former president, Asif Ali Zardari, and his sister in a fake account to launder Rs35 billion.

 


Russia and Ukraine trade attacks as US and European officials prepare for peace talks

Updated 14 December 2025
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Russia and Ukraine trade attacks as US and European officials prepare for peace talks

Moscow pounded Ukrainian power infrastructure with drone and missile strikes on Saturday and Kyiv launched a deadly strike of its own on southwestern Russia, a day before talks involving senior European and US officials aimed at ending the war were set to resume.
Ukrainian President Volodymyr Zelensky said Ukrainian, US and European officials will hold a series of meetings in Berlin in the coming days, adding that he will personally meet with US President Donald Trump’s envoys.
“Most importantly, I will be meeting with envoys of President Trump, and there will also be meetings with our European partners, with many leaders, concerning the foundation of peace — a political agreement to end the war,” Zelensky said in an address to the nation late Saturday.
Trump’s special envoy Steve Witkoff and his son-in-law Jared Kushner are traveling to Berlin for the talks, according to a White House official, who spoke on condition of anonymity.
American officials have tried for months to navigate the demands of each side as Trump presses for a swift end to Russia’s war and grows increasingly exasperated by delays. The search for possible compromises has run into major obstacles, including which combatant will get control of Ukraine’s eastern Donbas region, which is mostly occupied by Russian forces.
“The chance is considerable at this moment, and it matters for our every city, for our every Ukrainian community,” Zelensky said. “We are working to ensure that peace for Ukraine is dignified, and to secure a guarantee — a guarantee, above all — that Russia will not return to Ukraine for a third invasion.”
As diplomats push for peace, the war grinds on.
Russia attacked five Ukrainian regions overnight, targeting the country’s energy and port infrastructure. Zelensky said the attacks involved more than 450 drones and 30 missiles. And with temperatures hovering around freezing, Ukraine’s interior minister, Ihor Klymenko, said more than a million people were without electricity.
An attack on Odesa caused grain silos to catch fire at the coastal city’s port, Ukrainian deputy prime minister and reconstruction minister Oleksiy Kuleba said. Two people were wounded in attacks on the wider Odesa region, according to regional head Oleh Kiper.
Kyiv and its allies say Russia is trying to cripple the Ukrainian power grid and deny civilians access to heat, light and running water for a fourth consecutive winter, in what Ukrainian officials call “weaponizing” the cold.
The drone attack in Russia’s Saratov region damaged a residential building and killed two people, said the regional governor, Roman Busargin, who didn’t offer further details. Busragin said the attack also shattered windows at a kindergarten and clinic. Russia’s Defense Ministry said it shot down 41 Ukrainian drones over Russian territory overnight.
On the front lines, Ukrainian forces said Saturday that the northern part of Pokrovsk was under Ukrainian control, despite Russia’s claims this month that it had taken full control of the critical city. The Associated Press was not able to independently verify the claims.
The latest attacks came after Kremlin foreign affairs adviser Yuri Ushakov reaffirmed Friday that Moscow will give its blessing to a ceasefire only after Ukraine’s forces have withdrawn from parts of the Donetsk region that they still control.
Ukraine has consistently refused to cede the remaining part of the region to Russia.
Ushakov told the business daily Kommersant that Russian police and national guard troops would stay in parts of eastern Ukraine’s Donbas even if they become a demilitarized zone under a prospective peace plan — a demand likely to be rejected by Ukraine as US-led negotiations drag on.
Ushakov warned that a search for compromise could take a long time, noting that the US proposals that took into account Russian demands had been “worsened” by alterations proposed by Ukraine and its European allies.
“We don’t know what changes they are making, but clearly they aren’t for the better,” Ushakov said, adding: “We will strongly insist on our considerations.”
In other developments, about 480 people were evacuated Saturday from a train traveling between the Polish city of Przemysl and Kyiv after police received a call concerning a threat on the train, Karolina Kowalik, a spokesperson for the Przemysl police, told The Associated Press. Nobody was hurt and she didn’t elaborate on the threat.
Polish authorities are on high alert since multiple attempts to disrupt trains on the line linking Warsaw to the Ukrainian border, including the use of explosives in November, with Polish authorities saying they have evidence Russia was behind it.