ISLAMABAD, Oct 18: An accountability court on Thursday issued non-bailable warrant against Dr Abdul Ghani, a co-accused in the Sukrand Sugar Mills fraud case.
The warrants were issued after the court received a courier message from Dr Ghani expressing his inability to appear before the court on Thursday. The court, however, directed him to appear before the court on October 27 and record his statement.
Meanwhile, Abdul Rehman, the process server, informed the accountability court No II that he was unable to serve notice on Abdul Sattar Kario, another co-accused in the same reference, because he was absconding.
The chief executive of the Sukrand Sugar Mills, Ausaf Hussain Agha and three other persons are facing charges of deceiving and cheating different banks and development financial institutions (DFIs).
The other co-accused is Nisar Hussain Veerani, the accounts in charge of the mills, Nawabshah.
It said the NDFC and other financial institutions had extended financial facilities by way of loan to acquire 66.29 per cent shares in the mills.
Thus the banks and the DFIs as shareholders of the mills were entitled to share the profits earned by the company. Instead, the accused utilized the revenues of the mills for their personal use by opening different Benami accounts in banks like the Allied Bank (ABL) and Muslim Commercial Bank (MCB) Karachi.
The amounts received by the company from the sale of sugar, molasses and other income of the mills were deposited in these Benami accounts which were subsequently withdrawn by the accused.
These funds, according to the reference, were not accounted for and were kept out of the accounts books of the company.
The accused even prepared forged documents and records and maintained the books which did not reflect the correct amounts through the sale of sugar, the reference alleged.
SEHWANI CASE: Meanwhile, another accountability court has sent Abdul Aziz Khan Niazi and Aitzaz Khan Niazi to judicial remand.
The two co-accused, relatives of former Capital Development Authority chairman Shafi Sehwani, are facing charges of amassing wealth beyond their source of income.
Both persons, arrested in Islamabad last Thursday, allegedly acted as frontmen of Sehwani in accumulating assets worth Rs202 million through corrupt practices.
According to NAB Abdul Aziz Niazi acquired three kanals of residential plot in a prime sector of Islamabad.
Similarly, an industrial plot had been allotted in the name of Aitzaz Khan Niazi.
The total value of the two plots is more than Rs20 million. The NAB believes that Abdul Aziz Khan Niazi invested more than Rs9.6 million in different stock exchanges from October 1998 to October 1999, despite the fact that he did not hold any regular job nor was involved in any business activity.
Meanwhile, Aitzaz Niazi, the brother-in-law of Sehwani, filed his income tax returns and wealth tax returns for the first time in 1997-98, after investigations into his source of income and properties were started.
According to the prosecution the two co-accused have no source of income to justify the ownership of these properties.