Ex-spymaster ‘real beneficiary’ of Al-Qadir Trust scam, Vawda alleges

Islamabad: Former federal minister Faisal Vawda made allegations on Wednesday, claiming that retired Lt Gen Faiz Hamid, the former spymaster, was the true beneficiary of the multi-billion dollar Al-Qadir Trust scam.

After appearing before the National Accountability Bureau (NAB) to provide a statement in the £190 million corruption case, Vawda asserted that former ISI chief Faiz Hameed was the “architect” and “mastermind” behind the corruption scheme.

Vawda mentioned several names that have been implicated in the media regarding the case, including Shahzad Akbar, Imran Khan, and others. However, he asserted that the person who had been overlooked in all of this was Faiz Hamid, the alleged architect and prime beneficiary of the corruption scam, who previously served as the DG ISI.

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Referring to the Al-Qadir Trust case, Vawda claimed that it was just a “minor case” and further investigations would reveal even greater crimes. He highlighted the rapid increase in Hamid’s personal assets, alleging that someone whose salary began at Rs100 before their career started and ended up earning Rs10,000 with assets worth Rs100 million raised suspicions.

Vawda refrained from elaborating on Hamid’s other alleged crimes, emphasizing that his claim could be verified by evaluating Hamid’s assets in his hometown of Chakwal. He stressed the importance of accountability across the board and criticized President Dr. Arif Alvi for creating misunderstandings.

Faisal Vawda also accused Hamid of facilitating Shahzad Akbar’s escape from Pakistan, although he did not provide further details or evidence to support this claim.

The NAB alleges that the PTI government reached a deal with real estate businessman Malik Riaz, causing a loss of more than £190 million to the national exchequer in a quid pro quo arrangement. The case implicates Prime Minister Imran Khan and his spouse Bushra Bibi, alleging that they obtained billions of rupees and hundreds of kanals of land from Bahria Town Ltd to legitimize illegal proceeds. The role of former accountability czar Shahzad Akbar in repatriating Rs50 billion is also under scrutiny in the case.