Editor's Picks Pakistan

Former NAB chief spills the beans on Broadsheed deal

  • Lt Gen (retd) Syed Amjad claims Broadsheet used information provided by NAB against targets mentioned by Pakistan.
  • Former NAB chief says NAB prosecutor general’s son used to work for one of the partners of Broadsheet.
  • Broadsheet did nothing to bring back wealth looted from Pakistan, says Lt Gen (retd) Amjad.

LONDON:  Former head of the National Accountability Bureau (NAB) chairman Lt Gen (retd) Syed Amjad, informed a British court, that the accountability watchdog’s agreement with Broadsheet was signed without getting the necessary approval from the concerned government departments.

“Broadsheet did nothing to bring back wealth looted from Pakistan,” said the former NAB chief. He also told the court that former prosecutor general of NAB, Farooq Adam Khan’s son, used to work for one of the partners at Broadsheet.

Amjad also claimed that Broadsheet used information provided by NAB against the “targets” mentioned by Pakistan.

“Broadsheet could not provide any useful information to NAB nor did it help in bringing back [looted] money,” said the former lieutenant general.

The former head of NAB had visited Broadsheet’s office in Colorado in April 2000 where he signed the agreement with the company.

It has been reported that during the visit, the Pakistani delegation was given a presentation based on fake information.

The scandal

The Broadsheet case has caused a political storm in Pakistan ever since NAB lost the case in a British court forcing the government to millions of dollars to the asset recovery firm.

PM Imran Khan took notice of the scandal after court documents revealed that the accountability bureau made a deliberate decision to disregard financial damages that may be caused to Broadsheet LLC by entering into a settlement with an unauthorised individual and paid around $1.5 million to a fake firm.

The arbitration court that heard the case – Broadsheet LLC vs. The Islamic Republic of Pakistan and the National Accountability Bureau – was chaired by Sir Anthony Evans. The court’s ruling titled Part Final Award (Liability issues) was handed down in August 2016 under the Chartered Institute of Arbitrators, Case No. 12912001.

The case details the whole saga from establishing NAB to signing and then three years later rescinding the agreement between the NAB and Broadsheet LLC, breach of the contract, illegal payments from Pakistan to wrong entities; and all that led the court to ascertain that NAB was involved in intentional wrongdoings.

The anti-graft body and Broadsheet had signed the agreement in June 2000, which was breached by Pakistan in October 2003.

The judgment documents reveal what the arbitration court had concluded that the claimant [Broadsheet LLC] was entitled to recover damages from the respondents [the Islamic Republic of Pakistan and the National Accountability Bureau] for the “tort of conspiring to cause unlawful economic loss to the Claimant by entering into the Settlement Agreement dated 20 May 2008 with Mr. James and companies controlled by him and/or in making payments to him or them thereunder.”

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