FIA team finds SECP chairman guilty of tampering record of Sharifs’ companies

[Mansoon]

FIA team finds SECP chairman guilty of tampering record of Sharifs’ companies
By Hasnaat Mailk
Published: July 9, 2017

SECP Chairman Zafar Hijazi

ISLAMABAD: A Federal Investigation Agency (FIA) inquiry team has found Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi guilty of tampering records of companies owned by the Sharif family, and has recommended registering an FIR against him.

The team submitted a 28-page inquiry report to the Supreme Court on Saturday, in which it endorsed the stance of the joint investigation team (JIT) probing the offshore assets of Prime Minister Nawaz Sharif and his family in connection to the Panamagate case.

Sources told The Express Tribune that the FIA investigators found Hijazi guilty of misconduct by passing illegal orders and pressurising his subordinates to do illegal acts. In their report, they advised the court to register a criminal case against the SECP chairman under sections 466 and 471 of the Pakistan Penal Code read with section 5(2) of the Prevention of Corruption Act, 1947.

A three-judge Supreme Court bench headed by Justice Ejaz Afzal Khan on June 19 directed the FIA Director General to launch an inquiry into JIT allegations that the SECP had tampered the record of companies owned by the Sharifs. The top court later formed a four-member FIA team to look into the matter.
https://tribune.com.pk/story/145366...an-guilty-tampering-record-sharifs-companies/

@django @The Sandman @IceCold @Divergent @MastanKhan @GreenFalcon @Dawood Ibrahim @Arsalan @El_Swordsmen @Mentee @Indus Falcon @Mansoon @Knight Rider @pkuser2k12 @Peaceful Civilian @iPhone @iamsufyanq @GeoDhola @Signalian @PakSword @tps77 @Baghial @sarosh yakoob mehdi @abrarmalik @Dastaan @simple Brain @pakistanitalkshow @Z4ZOHAIB

 

[django]

Hope the appropriate action is taken, we as a nation cannot afford for them to weasel their way out of this one.

 

[Mansoon]

Hope the appropriate action is taken, we as a nation cannot afford for them to weasel their way out of this one.

Khuda ki Lathi

 

[QatariPrince]

Put his name on ECL asap.

 

[El_Swordsmen]

put him behind bars for atleast 20 years

 

[notorious_eagle]

I wonder how the PML-N supporters will defend this?

 

[IceCold]

I wonder how the PML-N supporters will defend this?

By bringing Imran Khan and PTI into the debate.

 

[Azaadi]

A strict action against him be taken on account of tampering in the record. Issuing the verbal orders by the authorities has damaged the working in offices... it has been seen in the offices that top level management issues the orders by verbal to do something wrongdoing if orders are not accepted he is transferred or given some sort of punishment....

 

[خره مينه لګته وي]

FIA report finds SECP chairman guilty of tampering with Sharif business records

A Federal Investigation Agency (FIA) inquiry team has found Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi guilty of tampering the records of companies owned by the Sharif family, and has recommended registering a First Information Report (FIR) against him.

The team submitted a 28-page inquiry report to the Supreme Court (SC) on Saturday, in which it endorsed the stance of the joint investigation team(JIT) probing the offshore assets of Prime Minister Nawaz Sharif and his family in connection to the Panamagate case.

Last month, the JIT told the SC that not only have some governmental departments shown reluctance in handing over the relevant records required for their investigation, but some records had also been tampered with.

In the wake of the FIA investigation, two opposing groups have emerged within the corporate sector regulator, which is now rife with suspicions and mistrust.

On Friday, the SECP commission held its first bi-weekly meeting since the arrival of the probe team.

The meeting was put off as long as the investigators remained on the SECP premises.

However, rumours circulated that the meeting was put off until Tahir Mahmood, the commissioner of the Company Law division, left on ex-Pakistan leave late on Thursday night.

The two camps, which emerged in the wake of the allegations and counter-allegations levelled by senior and mid-level SECP executives, have Chairman Zafar Hijazi on one side.

Mahmood — the most senior executive — is said to be leading the dissident camp. While the three-year tenure of Hijazi is set to end in December 2017, Mahmood — a career SECP officer — still has years of service ahead of him.

The cracks in SECP ranks came to the fore when the relevant executives and the chairman gave contradictory statements to the FIA team.

In his defence, Hijazi tried to turn the tables on his subordinates when he told the FIA team headed by FIA Anti-Corruption Wing Director Maqsoodul Hassan: "I have now learnt that some undisclosed witnesses have falsely deposed before the JIT that the case (pertaining to Chaudhry Sugar Mills) was prepared on my directions in 2016."

In his reply, Hijazi has identified Mahmood as being responsible for the affairs of the relevant department, adding: "The SECP chairman is not supposed to examine each and every file, nor is any such exercise practically possible. He interacts with departments through concerned commissioners and relies upon the briefings given to him."

Hijazi’s response also claimed there were no allegations of money laundering against Chaudhry Sugar Mills and any impression to this effect was given due to ulterior motives.

This statement contradicts the detailed response given to FIA by Maheen Fatima, who heads the Internal Audit and Compliance department.

It was her earlier statement to the JIT that blew the lid on alleged record tampering.

She told the JIT that the alleged money laundering case against Chaudhry Sugar Mills was closed in 2016 on the directives of the chairman, but the date penned in the closing note was May 2013.

In response, the SC had directed the Interior Ministry to conduct an inquiry through the FIA, which opened a Pandora’s box inside the SECP.

Fatima’s statement to the FIA highlighted how, after the Panama Papers case hearings in the Supreme Court, the Chaudhry Sugar Mills case began to appear in media reports in 2016.

"On June 26, 2016, Mr Mahmood (the commissioner) called myself and Abid Hussain (the executive director) who was also working on Panama-related information, to the chairman’s office with Chaudhry Sugar Mills files," Fatima told the FIA team.

"We briefed about the case and he (chairman) called Ali Azeem and asked to close the investigation against the Chaudhry Sugar Mills," she told investigators.

Azeem currently heads the SECP’s Insurance Division, but was head of the Enforcement Department in 2013.

Her statement said: "[The] chairman directed us to immediately put a backdated note in the file to confirm the investigation was closed in 2013."

"This was all done on extreme pressure of [the] chairman," she said, adding: "I was not in a position to say no."

DawnNews

 

[Kabira]

He must be punished if found guilty.

 

[Arsalan]

I wonder how the PML-N supporters will defend this?

LOLZ!

REALLY?

Have they found defending Nawaz difficult? Why would this be a bigger problem now?

When you choose to close your eyes and not think about the reality you can imagine whatever you want regardless of the truth. The same will be the case here.


I just hope that the SC takes appropriate action and the whole exercise of JIT and not only nabs the big fish like Nawaz and Co. but the next step is to bring reforms to the institutions so that no one dares to go down this route again.

 

[Guddy]

I think this is enough evidence that they are looters who do you think asked them to temper the results? stop fooling the nations

 

[pakipower316]

Leave aside JIT report. This document from UAE itself proves that NS and Co., starting point of property in UAE was illicit