Yesterday’s headlines screamed the Chief justice Iftikhar Muhammed Chaudhry celebrating the “recovery” of monies scammed from bank of Punjab by Haris Steel Mill owners, declaring BoP case a precedent for loan recovery. That he would declare this in response to NAB stating that of the Rs. 13 Billion scam, only Rs. 5.6 Billion have been recovered is further proof that the fix was on Have the courts become part and party to the looting? (The only other possibility is that the justices are too dumb)
Why do I say this? I say this because what started out as a Rs. 13 Billion scam was quietly reduced to a Rs 9 Billion scam (and now to Rs. 8.4 Billion) and what started out as Rs 7.5 Billion recovered months ago (from the HSI owner, Sheikh Afzal alone — their are at least 17 co-accused) is now reduced to only Rs 5.6 Billion, right in front of the eyes of these courts and the judges are pretending not to have noticed. (For a complete background, see my previous posts — links at the bottom).
First e saw the 13 Billion become Rs 9 billion after Zardari and the lawyers like Aitzaz, Awan, Khosa, Qayyum, Waseem Sajjad, Pirzada, etc. had taken their cut. Then NAB decided to take a 40% commission on the recovered amount stating NAB has allowed IN ITS OWN notification of July 6th, 2009 that “it can receive 25 percent of the amount received in plea-bargain or action from the complainant” and 15% from the accused. SC had rightly stopped NAB from doing so, stating they cannot expect commissions for doing their job. But what is interesting is that right after that, the recovered amount drops from at least Rs. 7. 5 Billion to Rs. 5.6 Billion (remember it was on Dec 22 that NAB had told the court Rs. 7.5 Billion had already been recovered from Sh Afzal alone).
So where did this nearly Rs. 2 Billion go? And how come the court did not notice it?
And still not a word about the real culprits (remember these Haris Steel guys were just the middlemen. Reports are the scam is one of over Rs. 160 Billion)
Also remember all this wheeling-and-dealing is going on before the main accused — Hameesh Khan — is even heard.
SC directs NAB to adopt soft attitude with accused in Haris Steel Mill case.
NAB okays plea bargain of BoP scam accused
BoP ex-chief, others petitions against NAB not heard
Ex-Citi bankers, bureaucrats trying to take over BOP
How to Rob a Bank
Previous Posts on BOP Scam: