Wednesday, August 3, 2011

Eighth anniversary of Zardari's conviction of fraud in Switzerland

President Asif Ali Zardari to celebrate eighth anniversary of his conviction for money-laundering in Switzerland.

Eight years ago, i.e. in August 2003, a Swiss Investigation Judge Daniel Devaud convicted Benazir Bhutto and her husband Asif Ali Zardari of money laundering and sentenced them to six months imprisonment and a fine of $50,000. In addition, they were required to return $11 million to the Pakistani government. The conviction involved charges relating to kickbacks in from two Swiss firms (Societe Generals De Surveillance and Cotecna) in exchange for customs fraud. In France, Poland, and Switzerland, the couple faced additional allegations.

The corrupt couple appealed against the judgement, but when this appeal was about to be finalized, former military dictator General Pervaiz Musharraf bailed the couple out through infamous NRO and withdrew these Swiss cases, so the couple was saved from punishment, but this does not mean that they did not commit any corruption.

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