Multan Metro case: Punjab govt says Faisal Subhan created fake company
'Subhan created a fake company by colluding with a man named Aijaz'
February 27, 2018
LAHORE: Spokesperson of the Punjab government on Tuesday expressed doubt on the character of Faisal Subhan — CEO of Capital Engineering which was probed for corruption allegations in the Multan Metro Bus project.
"Subhan created a fake company by colluding with a man named Aijaz," Malik Ahmed Khan said on Geo News' programme Geo Pakistan. "His character is suspicious."
Counterfeit letters from Chief Minister of Punjab Shehbaz Sharif and Mushahid Hussain Syed used to create the company.
"China's regulatory authority probing into the matter discovered that such a company doesn't exist," Khan said.
The PTI Chairman Imran Khan on Monday had said that Subhan confessed to the Chinese regulatory authority investigating corruption charges in the project that Shehbaz and his family received hefty kickbacks in their overseas accounts.
"Shehbaz Sharif has spent nine trillion rupees through his chosen bureaucrats like Ahad Cheema," Imran had said. "The real issue of Pakistan, today is, that will this mafia continue to loot the public's money that should be spent on clean drinking water projects, health, and education?"
The case
The China Securities Regulatory Commission (CSRC) had blacklisted Jiangsu Yabaite Technology Co Ltd forever and awarded the maximum penalties to the company and its owner in December last year.
The Chinese company’s fraud was highlighted when the Pakistani media reported that Shehbaz was allegedly involved in money laundering and sent a huge amount of kickback money to China through Yabaite.
The Punjab CM had not only strongly rebutted the media reports but also sent legal notices to the media organisations that were involved in the alleged misreporting.
The case was then referred to the Federal Investigation Authority (FIA) by the Securities and Exchange Commission of Pakistan. The National Accountability Bureau's Multan extension had also started a probe into the alleged money laundering in the Multan Metro Bus project.
