Former Pakistani President Asif Ali Zardari has apparently hidden the hundreds of millions of dollars he allegedly stole from the government in the bank accounts of over a hundred unsuspecting Pakistanis.
The result is that some Pakistanis have become instant billionaires (in Pakistani rupees) without their knowledge. The latest, and most sensational case so far, is that of ice cream vendor Muhammad Abdul Qadir from Karachi.
Qadir, who earns some $4.00 a day selling "falooda" (an ice-cream topped desert), was arrested for having $18.6 million (2.3 billion Pakistani Rupees) in his bank account. Asked to explain where this massive fortune came from, the "Penniless Billionaire," as Qadir has since been called by media, shrugged and said he hasn't got the faintest idea.
Qadir was questioned by Pakistan's Federal Investigation Agency (FIA) after authorities found the money in a bank account under his name. The entire amount in the account, however, was withdrawn by someone pretending to be Qadir in 2015.
Qadir was released on bail after he told authorities he can't write, so how could he have withdrawn the 2.3 billion rupees?
A forlorn and depressed Qadir later told media he's "the most unlucky man in the world." Had he known the massive sum was in his account, he would have taken it. He said that when he came to know about the huge sum, "it was no longer there."
The FIA said Qadir's account is among a large number of bank accounts they suspect Zardari is using to hide money he and his cohorts illegally laundered. Qadir's account is among 77 under investigation by the FIA.
The FIA is investigating a massive, $283 million (35 billion Pakistani Rupees) money laundering scheme of which Zardari is said to be the mastermind. Zardari is currently free on bail after a warrant for his arrest was issued in August. Zardari paid a bail of 2 million Pakistani Rupees for his temporary freedom.
Zardari; his siblings and their business aides are under investigation for illegally channeling funds through bank accounts to launder them in connivance with the CEOs of major banks. FIA also sued five members of the Omni Group that deposited funds into a Summit Bank account. These funds were then routed to various banks in London for laundering. The case against Zardari and his cohorts were first filed in 2015.
During his five-year term as Pakistani President, Zardari earned the notorious nickname of "Mr. Ten Percent" because of his alleged propensity for demanding a cut in lucrative government deals.
Zardari was Pakistan's president from 2008 and 2013 following the assassination of his wife, former Prime Minister Benazir Bhutto.
In August 2003, a Swiss judge convicted Zardari and Bhutto for money laundering. The couple was sentenced to six months imprisonment and a fine of $50,000. They were also required to return $11 million to the Pakistani government. The conviction involved kickbacks from two Swiss firms in exchange for customs fraud.
