Re: Transparently Corrupt
and this:
Inside trading scam FBI to probe PM, Punjab CM role (Frontier Post)
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Saeed Minhas*
ISLAMABAD: Investigations following the arrest of a Pakistani investment banker, Hafiz Naseem on account of 26 charges ranging from inside trading to conspiracy in US, is linking Prime Minister Shaukat Aziz and Chief Minister Punjab Ch. Pervaiz Elahi, their close aides and known names in Pakistani banking and stock exchange sectors with the inside trading scam being investigated by FBI, learned The Frontier Post on good authority. Sources privy to information disclosed that though Hafiz Nasim, a LUMS graduate, a former employee of American Express in Pakistan and an under-investigation banker at Credit Suisse New York has been granted bail by a US federal judge, yet Federal Bureau of Investigation (FBI) has taken up this case for investigations.
FBI will be looking into possible links between this scam, Pakistani high ups, gulf countries and Al-Qaeda. The inside-trading-scam, sources revealed had some similarities with the BCCI scandal of 80s which ultimately brought down the biggest bank of Islamic world. Involvement of FBI also denotes the interests of Homeland Security of US in an otherwise financial scam because it has the potential of unearthing an existing or future international network of “nexus of evil”, informed the sources. Federal ministers, seeking anonymity confirmed the arrival of FBI team in Islamabad and also confirmed that the FBI team is investigating various characters involved in this scam. Insiders believe that the recent crash of Karachi Stock Exchange, which revolved around Prime Minister Shaukat Aziz and his financial advisors, might also get highlighted because of the involvement of same characters in this scam.
There are several big names from amongst politicians, investors and bankers which are likely to be investigated and interviewed by FBI in this matter, revealed our own investigations. Shujaat Azeem, a pilot by profession, happens to be a close aide of prime minister and brother of federal minister of information, Tariq Azeem is seen as a ‘person of interest’ by FBI along with the former head of investments for Faysal Bank Pakistan, Ejaz Rahim-who currently is living in Canada after quitting his job at Faysal Bank. Shujaat Azeem is president of a US $ 110 million housing project, Sukh Chain Gardens, Lahore, which was inaugurated by Prime Minister Shaukat Aziz and is funded by Chinese. Ejaz Rahim is a partner in one of the biggest housing project in Lahore, while the president of Faysal Bank, Farooq Bengali also holds share in this housing project. Bengali along with Ejaz Rahim, is facing charges of benefiting from a conflict of interest situation by investing personally in a scheme where his bank was the financier. They both invested in a housing project of Habib Rafiq Developers, Alhamra Hills in Islamabad and helped many politicians and businessmen benefit from this scheme, because the project was financed by Faysal Bank.
Chaudhary Munir, who is very dear to Chief Minister Punjab because of his special links with the UAE rulers and is in-charge of their investments in Pakistan, is also a partner in Sukh Chain Gardens. It was this involvement which has led the investigators to see any linkage of the Gulf states in the scam or its characters and thus find any clue as to the financing of Al-Qaeda operations, opined the sources. Another person of interest for the investigators is Aqeel Dhadi, commonly known as AKD. He is considered instrumental in the recent crash of KSE, which triggered quite an uproar in the country because of Prime Minister’s alleged involvement in that scam. Chief of NBP Ali Raza is also on the investigators” list besides many other federal and provincial cabinet members, added the sources. Top bankers avoided saying anything on record but when prompted to go off the record confirmed that investigations are going on and all the concerned bankers are quite perturbed over this.