Zardari aide removed as PSX chief

Zardari aide removed as PSX chief

ISLAMABAD: Hussain Lawai, a close aide of PPP leader Asif Ali Zardari, has been terminated from the office of chairman Pakistan Stock Exchange on charges of money-laundering.

The Securities and Exchange Commission of Pakistan issued a notification in this regard.

Hussain Lawai, vice-chairperson of Summit Bank and a close friend of Zardari, was arrested on Friday by the Federal Investigation Agency on charges of Rs35 billion money-laundering.

The FIA has also nominated several other politicians, businessmen and bankers, including Anwar Majeed, Taha Raza, Abdul Ghani Majeed, Aslam Masood, Arif Khan, Noorain Sultan, Kiran Aman and Adeel Shah Rashidi in the case.

The money-laundering case revolves around 29 fake accounts at three banks, allegedly set up to funnel stolen money and kickbacks.

The Supreme Court has also taken notice of FIA’s investigation.