Zardari granted interim bail in money laundering case

KARACHI: A local banking court on Friday granted interim bail to former president and Pakistan Peoples Party (PPP) co-chairman Asif Ali Zardari in connection to a money laundering case.

Zardari along with his counsel Farooq Naik appeared before the banking court in Karachi and was granted interim bail on furnishing bail bonds of Rs2 million.

The former president has been granted interim bail for 15 days, Naik said.

"We are ready to face the trial," Zardari's counsel added.

The case has been adjourned till September 4. 

Earlier, as Zardari arrived for the hearing, a journalist commented that he did not come in a helicopter to which the former president said, "Wait a little, I will come back in one."

Responding to a question, the PPP co-chairman said, "Aitzaz Ahsan will become the next president of the country."

On August 17, the local banking court had issued non-bailable arrest warrants for Zardari and other absconding suspects in the ongoing probe. 

However, on August 18, the Islamabad High Court (IHC) approved the former president’s petition for protective bail in the case and ordered him to appear before the relevant court before September 3.

The FIA is investigating 32 people in relation to money laundering from fictitious accounts, including Zardari and his sister Faryal Talpur. Zardari’s close aide Hussain Lawai was arrested in July in connection with the probe.

The former president’s other close aide and Omni Group chairman Anwar Majeed and his son, Abdul Ghani, were also arrested by FIA earlier this month. Majeed’s three other sons have been granted interim bail.

Over 20 ‘benami’ accounts at some private banks were opened in 2013, 2014 and 2015 from where transactions worth billions of rupees were made, according to sources.

The amount, according to FIA sources, is said to be black money gathered from various kickbacks, commissions and bribes.