Fake accounts case: Zardari's remand extended till August 8

An accountability court here on Monday extended till August 8 the physical remand of former President Asif Ali Zardari and his sister Faryal Talpur in a money laundering case worth Rs 4.4 billion.

The National Accountability Bureau (NAB) had sought a 10-day physical remand of Zardari and that of five-day of Talpur. During the proceedings, Zardari's counsel Farooq H Naek requested the court that it would be better if the two were presented in the court the same day, reported the Express Tribune.

Zardari was first arrested by the NAB in June, this year, after the Islamabad High Court (IHC) recalled the pre-arrest bail granted to him and his sister in the fake accounts case.

Zardari and his sister have denied any links with the fake accounts. The two have the option of appealing the order in the Supreme court.

The case pertains to suspicious transactions worth Rs 4.4 billion allegedly carried out through a fictitious bank account.

In January last year, the Federation Investigation Agency (FIA) began an inquiry when the State Bank of Pakistan's financial monitoring unit issued a "suspicious transaction report" on 10 bank accounts.

Transactions worth billions were made over the years when over 20 bogus accounts were opened with a private bank.