Ali Jahangir Siddique interrogated by NAB in embezzlement case
Lahore (Web Desk) : Pakistan’s ambassador appointed to United States US Ali Jahangir Siddique is summoned by the National Accountability Bureau (NAB) to probe corruption case for four billion rupees on Wednesday.
Ali Jahangir Siddique, On Thursday appeared before the Lahore National Accountability Bureau (NAB) to record his statement in an inquiry pertaining to fraud.
Siddique is allegedly named in 19 inquiries pertaining to corruption, money laundering and violation of State Bank of Pakistan’s rules.
NAB officials alleged Jahangir Siddique accused for corruption of 4 billion rupees. He is in charges for inside trading in Stock Exchange, foreign investment and selling his company’s share to government officials
As per corruption charges his report was propelled by NAB Lahore which is approved by SECP.
Siddique’s companies Azgard Nine Limited (ANL) and Agritech have been accused of embezzlement in the stock market, insider trading and inflicting losses to its shareholders worth billions by investing abroad.
Jahangir’s’ company, Agritech, has sold its share in Rs.35 instead of Rs.11 Which led government organizations face loss of two billion rupees.
Prime Minister Shahid Khaqan Abbasi appointed Siddique as the ambassador to the US last month. He was scheduled to assume his new responsibilities as Pakistan’s ambassador in Washington next month as incumbent Aizaz Ahmad Chaudhry reached retirement. Siddique is currently a special adviser to the PM.
Ali Jahangir was previously summoned by NAB on March 16 to begin investigations.