Chairman SECP confesses involvement in number of underhand deals

Shares
Chairman SECP confesses involvement in number of underhand deals

ISLAMABAD – The chairman of Securities and Exchange Commission of Pakistan (SECP), Tahir Mahmood has made startling revelations.

He has confessed involvement in a slew of underhanded dealings utilizing his official position some two decades ago.

According to a confessional statement dating back to 2002, Mahmood stated that he used to assist two individuals named Tahir Siddique and Shaikh Barkatullah who were deeply involved in setting up companies in a shady manner.

The confessional statement recorded by Faqeer Muhammad highlights that Tahir Siddiqui was the bigwig of Prudential group and Mahmood had developed terms with him as well as with then chairman of Employees Old-Age Benefits Institution (EOBI), Sheikh Barkatullah.

As per the confessional statement, the troika then set up multiple companies in which incumbent SECP chief – who was serving at a lower position back in 1999 – assisted both Siddiqui and Abdullah and even delivered cash to the latter when ‘shoddy’ deals were finalized.