Another scandal. Let’s see how far this goes. It involves al-Qaeda backers as well.
This scandal also gives reference to recent crash of stock exchange.
Also, these Gulf countries show themselves to be sooo liberal, but on the other hand they are the top al-Qaeda backers everywhere, especially Pakistan. Most of the violent madressahs running in Pak receive aid through Saudia, Kuwait and UAE. Yet they never let such people run their madressah in their own country.
LONDON: An FBI team is in Pakistan to investigate an international scam involving some Pakistani cabinet ministers, their relatives, top bankers and the mighty stock brokers of Karachi, who have allegedly made millions of dollars overnight from the recent inside trading scheme of the US.
Top sources have disclosed to ‘The News’ that the FBI team was now busy investigating charges of money laundering for al-Qaeda against some top bankers with links with Pakistan’s top government officials, included close advisers to government authorities both in Islamabad and Lahore.
junior investment banker, who worked in Credit Suisse’s energy banking group in Manhattan, is accused of calling an unidentified banker in Pakistan and tipping him about deals shortly before they were publicly announced. The unidentified banker in Pakistan has turned out to be the former head of Faysal Bank (Investment Banking Group), Ejaz Rahim, who while denying any wrongdoing, admitted to a newspaper he made $5 million in a single trade. He has already obtained a bail from USA court.
Meanwhile, Minister of state Ishaq Khan Khakwani confirmed to The News from Pakistan by phone, that an FBI team was investigating some powerful people of Pakistan who were being accused of having a hand in the multi-million dollars scam.
When asked whether some government ministers and their relatives were being investigated by the FBI, Khakwani said, he had no idea who was being investigated but he can confirm that investigations were definitely underway in Islamabad.
Meanwhile, sources said, the brother of one of the ministers of state, close to the prime minister, was also being questioned by the FBI. Likewise, some top guns linked to a real estate scheme in Lahore were also being investigated. Likewise, sources said, one of the influential advisor of a provincial chief minister operating in Pakistan on behalf of the rulers of one Arab country was also being questioned.
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Sources said, one of the known brokers of Karachi who had recently bought some industrial units from the government had also formed a nexus with the accused and allegedly made billions along with a coterie of top bankers and politicians through inside trading that caused stock market crash recently.
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Sources insist that the FBI has also investigated about half of Pakistan’s federal and provincial cabinet ministers, particularly close advisors of top men at the Centre and Punjab.
Sources claimed an FBI team was in Pakistan to see if there was a pattern of inside trading by Hafiz Naseem and Ejaz Rahim; to probe if Gulf country’s Bank was involved in financing international terrorism through money laundering; China’s involvement in the Sukh Chain scheme; the involvement of top Pakistani politicians in the scam. The State Bank has already initiated an enquiry into this but is keeping mum about it as it might jeopardise the entire government at this critical juncture.