Park Lane reference: Former SECP director turns approver against Zardari

ISLAMABAD: Security Exchange Commission of Pakistan’s (SECP) former director Javed Hussain has turned approver in the Park Lane Estate Company reference against the former president Asif Ali Zardari on Tuesday.


The SECP’s former director was presented before an accountability court upon the conclusion of his physical remand under the custody of the National Accountability Bureau (NAB).

The NAB prosecutor requested the court for an extension in Javed’s physical remand for carrying out further investigation into the case. To which, the court asked about the number of days the suspect had been under NAB custody. The court was told that it had been 49 days.

Subsequently, the court rejected NAB’s request and sent Javed to jail under judicial remand.

In the previous hearing, the court had extended Javed’s physical remand till Oct 15.

Javed Hussain is in NAB custody since August in relation to the Park Lane case, for allegedly “facilitating the resignation of former President Asif Ali Zardari from two companies when he was President”.

Zardari is currently under arrest by NAB in fake accounts case. The Pakistan People’s Party (PPP) co-chairperson was taken under arrest for Park Lane default case on July 1. He took back his bail application in the Park Lane case on June 26.

It has been alleged that Zardari bought 2,460 Kanal land in Islamabad through the Park Lane company. The property, which is worth Rs2 billion, was allegedly bought by the former president in Rs620 million, according to NAB sources.

Sources added that PPP chairperson Bilawal Bhutto Zardari is also a suspect in Park Lane case.

In June, NAB handcuffed Zardari in the fake accounts case which pertains to the transactions worth hundreds of millions of rupees to the private companies, allegedly, through fake bank accounts.


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