Bank scam: warrants for 13

Published August 5, 2008

LAHORE, Aug 4: A judge of special court (Banking Offences) Justice Akram Baitu (retired) on Monday issued arrest warrants for 13 people including directors of a UK-based finance company involved in a £120 million scam.

The accused include Muhammad Luqman, Shahid Luqman, Munnaza Luqman, Zorina Luqman, Waheed Luqman, Sharifan Luqman and others who are the directors of Lexi Holding Private Limited Company.

The company had been extending investment in real estate business in collaboration with the Barclay Bank, UK.

According to the complaint filed by the Barclays Bank, the accused got £120 million financed from the bank and later secretly operated another account with United National Bank of London and got the whole amount transferred in different Pakistani banks through the said illegal bank account.

All the directors, who belonged to Gujarat, are out of country while bail bonds on behalf of Muhammad Luqman, Muhammad Latif and Chaudhry Salamat have been furnished. The proceedings will resume on Aug 27. — Reporter

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.