Asif Ali Zardari gets major relief in Park Lane reference

In a major relief to Pakistan Peoples Party (PPP) Co-Chairperson Asif Ali Zardari, an accountability court on Wednesday sent back the Park Lane reference to the National Accountability Bureau (NAB).

Accountability court judge Rana Nasir Javed heard the case today. The judge declared that the reference exceeded the court’s jurisdiction.

The case:

The former president allegedly got a loan of Rs1.5 billion released to his front company Parthenon Private Limited with ill intention and the money was later transferred for his personal use through fake bank accounts.

NAB accused the former president of causing a loss of Rs3.77bn to the national exchequer through these fake bank account transactions.

The anti-graft watchdog alleged that the accused created benami properties through Park Lane using Parthenon Private Limited as the front company.

Initially, a loan of Rs1.5 billion was allegedly taken that gradually increased to Rs4 billion.