ISLAMABAD: The Accountability Court hearing a multi-billion rupees fake bank accounts case on Tuesday reserved its judgment with respect to the acquittal plea of Ali Riaz Malik, the son of Malik Riaz in Pink Residency case, after it was informed that the accused paid 100 percent liabilities under the plea bargain.
The Accountability Court judge, Muhammad Azam Khan, while hearing the acquittal plea of Malik inquired whether the accused had paid the amount, which he pledged to pay under plea bargain.
Malik's counsel Barrister Ali Zafar, while arguing over his client's application, informed the court that the accused has paid "100 percent liabilities". Malik's only fault is that he is the Chief Executive Officer (CEO) of Bahria Town.
His client has paid Rs1 billion and he will pay the remaining amount in different installments, he further said. The NAB prosecutor told the court that the land of Bahria Town has been mortgaged. The court after hearing arguments reserved its judgment and adjourned the case till Sept 7th. The reference pertains to a project "Pink Residency" in Karachi's Gulistan-e-Jauhar area.
Copyright Business Recorder, 2020
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