Pakistan s ex-market regulator sent to judicial remand

Islamabad July 29 (IANS) A court here on Saturday sent former Securities and Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi to 14-day s judicial remand on charges of illegally helping ousted Prime Minister Nawaz Sharif and his family.

Hijazi was taken into Federal Investigation Agency (FIA) custody earlier this month after a report released by the Joint Investigation Team (JIT) probing Sharif and his family s wealth alleged that the former market regulator had altered records related to Chaudhry Sugar Mills Dawn news reported.

The FIA requested the court for a three-day physical remand which was contested by Hijazi s counsel Azid Nafees who argued that his counsel had already been in FIA custody for seven days.

Rejecting FIA s request the court sent Hijazi to Adiala Jail on a 14-day judicial remand.

A case was registered against Hijazi on the apex court s orders after the three-member Panama Papers case implementation bench acted on the JIT report.

Sharif resigned on Friday after the top court disqualified him from holding the post following a probe that revealed illegal family wealth stashed abroad.


--IANS
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