Son-In-Law of Malik Riaz gets a clean chit in Fake Account Cases after Pledging to Pay PKR 9.5 Billion
Zain accepted to mortgage his six properties.
The son-in-law of the Business tycoon Malik Riaz, Zain Malik, has been acquitted by an accountability court in six corruption cases after he pledged to pay PKR 9.5 billion in the plea arrangement.
The National Accountability Bureau submitted a record of payment to the accountability court.
Zain accepted to mortgage his six properties and pay PKR 4 billion in one case, PKR 170 million in another and PKR 37 million in the third case to the NAB, Rawalpindi Directorate, in the time period of three years. He will pay the amount in installments in three months’ interval.
He joined the court’s proceeding through a video link from his residence in the UK.
When the judge asked Zain whether he knew about the consequences of acquittal through the plea bargain, he replied in the affirmative.
The acquittal under the plea bargain did not exempt the accused because the conviction stands despite the acquittal.
Zain has been accused in the fake accounts cases of the Pink Residency, Illegal Allotment, and Mega Money Laundering. He has also been charged in the Icon Tower case of Karachi and has to formally plead in the accountability court in this case for acquittal under the plea bargain.
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