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Islamabad [Pakistan]January 22 (ANI): Pakistan Justice Movement (PTI) Chairman Imran Khan on Saturday admitted that funds he donated to Shaukat Khanum Memorial Trust (SKMT) for charitable work were diverted to a private housing project, Dawn reported.
Khan said he was notified by the SKMT board of directors to invest $3 million worth of funds in a private housing project. However, he clarified that the money was later returned to the trust fund, according to Pakistani newspapers.
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SKMT is a charitable organization established under the Registration of Societies Act No. XXI of 1860 of Pakistan.
The revelation came during Khan’s hearing in the Rs 1,000-crore defamation case against Pakistan Muslim League (PML-N) leader Khawaja Asif, who is now Pakistan’s defense minister. .
The proceedings were presided over by Additional District and Sessions Judge Umeed Ali Baloch. Lawyers from both sides attended the hearing, which Khan attended via video link from his residence in Zaman Park, Lahore.
During cross-examination by Asif’s lawyer, Barrister Haider Rasool, Khan revealed that SKMT’s board of directors had informed him of the investment in the private housing association, Dawn reported.
However, Khan said he could not recall the name of the housing project and whether the board notified him in writing. Board members later returned the $3 million and the matter was settled, he said.
However, barrister Rasool said the matter has not been resolved as the dollar exchange rate at the time of the investment was Rs 60 and the dollar exchange rate doubled to Rs 120 when the investment matured.
After lawyers asked the court to adjourn and insisted he would finish his cross-examination within hours of the next hearing, Khan said the matter could have been resolved sooner had the case been handled as it was.
The court then announced an adjournment, according to Dawn.
Khan had filed a Rs 1,000 crore defamation suit against Asif in 2012, alleging embezzlement and money laundering through SKMT funds.
In his lawsuit, Khan referred to Asif’s Aug. 1, 2012, press conference in which he claimed the PTI chief had lost huge sums of money donated to SKMT in a “real estate gamble”. He said the funds were given to the trust in the form of zakat, fitrana and other forms of donations.
Khan said Asif’s allegations were fabricated, baseless and designed to undermine people’s confidence in the trust. (Arnie)
(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)
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