ISLAMABAD – The Islamabad High Court (IHC) has reserved its verdict on the bail petition of Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan regarding the £190 million National Crime Agency (NCA) settlement reference.
Court Proceedings
The two-member bench, consisting of Chief Justice Aamer Farooq and Justice Tariq Mehmood Jahangiri, concluded the hearing after the completion of arguments on Tuesday.
Arguments Presented
Amjad Parvez, the special prosecutor for the National Accountability Bureau (NAB), argued that the funds in question should have been directed to the Government of Pakistan. He emphasized that the Supreme Court (SC) had previously stated these funds belonged to the state. Parvez pointed out that the amount was erroneously sent to another account, which the Asset Recovery Unit claimed was due to their efforts.
Parvez highlighted that the money transfer required the NCA’s permission. Chief Justice Farooq inquired if the funds were proceeds of crime, while Justice Jahangiri noted the lack of documentation to support the prosecutor’s claims about account freezing or de-freezing.
Scrutiny of Evidence
Justice Jahangiri questioned the transfer of money prior to notifying the prime minister. Parvez explained that the transfer occurred after a confidentiality deed and that Imran Khan, as head of the Asset Recovery Unit, was involved. Jahangiri remarked that the deed did not stipulate depositing the money into the SC’s account. Parvez described the deed as fraudulent and asserted that public servants cannot accept gifts from individuals with pending cases. He also mentioned the purchase and transfer of 458 kanals of land to Zulfi Bukhari during the Asset Recovery Unit’s dealings with the NCA, before the Al-Qadir Trust was established.
Imran Khan’s Statement
Speaking to journalists at Rawalpindi’s Adiala Jail, Khan stated that the NCA had seized the funds due to “suspicious transactions” but not “money laundering.” During the PTI administration, the NCA seized £190 million in assets from a property tycoon, which were to be returned to Pakistan through a confidential agreement.
Corruption Charges
The case involves corruption charges against Khan and his associates, concerning a settlement that reportedly caused a £190 million loss to the national exchequer. Khan and others allegedly benefited from over 458 kanals of land to establish Al-Qadir University, in connection with the NCA settlement.
Khan’s administration approved the confidential agreement with the UK crime agency without public disclosure. The Al-Qadir Trust was founded shortly after, with Zulfi Bukhari, Babar Awan, Bushra Bibi, and Farah Khan as members. Land was transferred to the trust after initial transfers to Bukhari, who later opted out as a trustee.
NAB Investigation
NAB converted the inquiry into an investigation following the emergence of significant evidence. The agency alleges that Khan and his wife obtained land worth billions to build an educational institute in return for legitimizing the property tycoon’s funds received from the UK crime agency.
