NICL corruption scam: report on alleged involvement of Moonis presented in Supreme Court

Federal Investigation Agency (FIA) on Thursday presented investigation report in Supreme Court regarding alleged involvement of Moonis Elahi, son of former chief minister Punjab, in NICL corruption scam. A three-judge bench headed by the Chief Justice Iftikhar Muhammad Chaudhry conducted the hearing of National Insurance Corporation (NICL) corruption case.
According to the report, an amount of Rs 120 million was transferred to Moonis Elahi's account in a British Bank. Additional DG FIA Zafar Qureshi presented the investigation report before the apex court, which said Rs 50 million were transferred to Mrs Moonis Elahi's account in a British bank Al-Barka while 14 more telegraphic transfers were also made.
Former DG FIA Wasim Ahmed had earlier tried to conceal a British report on the transfer of money. Moonis Elahi, clarifying his position, said the money to his British account had come from the sale proceeds of sugar mills. The report further said that uncle of Mohsin Warraich had earlier promised to deposit Rs 420 million but later sought a time of 5 years to arrange the sum. A case had been lodged against Amin Qasim Dad for violation of ECL while the name of Mohsin Warraich had been entered in UK's ECL.
Earlier, on Monday, the FIA had formally submitted charges against Moonis Elahi, accusing him of financial fraud in connection with NICL corruption case. The FIA had submitted evidence to the court against Elahi, Abdul Malik who is a manager at one of the companies Elahi owns, and two employees of banks who are accused of aiding Elahi's allegedly fraudulent transactions. Malik opened several bank accounts in Lahore through which Rs 320 million was eventually transferred to Elahi, according to FIA. It remains unclear as to which laws Elahi is accused of breaking.