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LAHORE, April 4: Mohsin Habib Warraich, the prime suspect in the National Insurance Company Limited (NICL) scam, has cleared his liability by submitting cheques worth Rs420 million in the court of special judge central dealing with the Federal Investigation Agency (FIA) cases.
“After submission of the cheques, 100 per cent recovery of the embezzled amount has been made,” FIA additional director Zafar Ahmed Qureshi told Dawn. He said the Warraich family had also got 804 kanals of land mortgaged in the name of the NICL. Messrs Privilege, the company owned and operated by the Warraich family, purchased 804 kanals from the NICL at Mauza Toor, Lahore, against Rs1.68 billion in February last year. The company allegedly sold the land without getting the land mutated in its favour.In the other case, the NICL sold a piece of land measuring 20 kanal at Lahore Airport Road to Mohsin Warraich for Rs1.7 billion. It sold the land at the rate of Rs53 million per kanal though its market value was much higher, thus, causing a loss of Rs915 million to the exchequer.
In this case the total amount outstanding was Rs420 million, which the Warraich had paid now.
After the development, PML-Q leader Moonis Elahi, who is accused of receiving Rs320 million from Warraich, may get legal benefit as no amount remains due from the accused.
During the 14-day physical remand, he did not admit having received the alleged amount.
Presently, Moonis is on a 14-day judicial remand. Mohsin Warraich also had submitted an affidavit that Moonis had not received any money from him.
