New graft case against Asif Ali Zardari

Pakistan's anti-graft body filed a new case of corruption against former president Asif Ali Zardari for allegedly being involved in transfer of billions of rupees to a company, co-owned by him and his son Bilawal Bhutto-Zardari, through fake bank accounts.

According to the National Accountability Bureau (NAB), Zardari, who is also the Pakistan Peoples Party (PPP) co-chairman, had acquired Karachi-based real estate firm Park Lane Estate Company (Pvt) Ltd illegally through a front man in 1989.

In 2009, Zardari and Bilawal became shareholders of the company.

The NAB claimed that billions of rupees were transferred to the company through fake bank accounts. The company also took loans of billions of rupees from banks using the political clout of Zardari, it claimed.

The 63-year-old husband of the country's first woman prime minister Benazir Bhutto was arrested by NAB officials in the Park Lane case on July 1. He was already in NAB's custody since June 10 after the Islamabad High Court dismissed his pre-arrest bail petition in the fake accounts case.

According to the NAB, Zardari is being investigated for his alleged involvement in extending loans and other misappropriation by Parthenon Private Limited, Park Lane Estate Private Limited and others.