Money laundering suspect Hussain Lawai suffers heart attack in prison

Pakistan Stock Exchange (PSX) former chairman Hussain Lawai has been shifted to a hospital from prison after he suffered a heart attack on Thursday. 

According to local media reports, Lawai has been shifted to National Institute of Cardiovascular Diseases (NICVD) from prison. The banker is the main accused in a money laundering case and has been in jail since a few weeks.

Lawai was arrested by Federal Investigation Agency (FIA) last month, under the charges of money laundering through fake accounts after the agency registered a case in Karachi over a mega money-laundering scandal involving Rs35 billion.

The money laundering saga implicated several bigwigs, including the names of ex-president Asif Ali Zardari and his sister Faryal Talpur. Lawai, however, has denied any wrongdoing during his statement to the FIA, saying that he has not been accused of money laundering.

After Lawai was accused in the money laundering case, the Securities and Exchange Commission of Pakistan (SECP) directed PSX to remove Lawai as chairman of the board of directors of PSX.

“In the interest of the public and the capital markets, the SECP has directed PSX to remove Lawai and appoint a new chairman of the board, while ensuring compliance with the regulatory requirements,” stated SECP, in a statement.