ISLAMABAD: The Sup­reme Court on Wednesday rejected an interim bail plea of B4U Chief Executive Officer Saifur Rehman, who is accused of cheating public at large in a multi-billion-rupee scam.

Police arrested Saifur Rehman as soon as he stepped out of the court premises following the dismissal of his bail plea.

A three-member SC bench headed by Justice Umar Ata Bandial heard the case and announced a short order after hearing arguments of Barrister Latif Khosa, the counsel for the accused, and the NAB prosecutor.

Mr Khosa said the National Accountability Bureau did not have the jurisdiction to probe this matter as the Securities and Exchange Commission of Pakistan (SECP) regulated investment firms.

He said his client was cooperating in investigation against him.

Justice Mansoor Ali Shah noted that the SECP had forwarded a reference to NAB for investigation.

Justice Bandial observed that the bureau wanted to investigate the alleged scam involving billions of rupees.

In reply to a question whether Saifur Rehman was involved in crypto currency business, the NAB prosecutor said that no evidence had been found in this regard.

Meanwhile, Justice Syed Mansoor Ali Shah of the Supreme Court recused himself from hearing a review petition about the appointment of former managing director of Pakistan Television Ataul Haq Qasmi.

A three-member SC bench headed by Justice Umar Ata Bandial heard the review petition.

During the course of proceedings, Advocate Akram Sheikh, representing the petitioner, said the court did not allow the petitioner to change the counsel at the previous hearing.

Published in Dawn, September 23rd, 2021