Pakistan President has assets ‘beyond his means’ of $1.5 billion

The President of Pakistan, Asif Ali Zardari, has assets of $1.5 billion (£920 million) around the world, according to the country’s main anti-corruption body.

A report by the National Accountability Bureau said that the wealth accumulated by Mr Zardari was “beyond his means”. It said Mr Zardari allegedly owned properties and bank accounts in several countries, including Britain, the US and Spain. In 1996 he allegedly bought a $4 million, 355-acre estate in Surrey.

Investigators said that most of Mr Zardari’s fortune was made during his wife Benazir Bhutto’s two terms in office as Prime Minister in the 1990s. They alleged that the money had come from kickbacks and commissions on government deals.

The report was given to the Supreme Court as it deliberated over a proposed amnesty for the country’s leaders.

Mr Zardari had faced six cases of kickbacks and misuse of power that were terminated under an agreement known as the National Reconciliation Ordinance in October 2007.

The amnesty, brokered by the US and Britain, was introduced by former President Pervez Musharraf under a deal that paved the way for Ms Bhutto to return home from self-imposed exile. Ms Bhutto was assassinated just over two months later, leaving Mr Zardari to lead her party to victory in general elections in February 2008 and then become President after General Musharraf resigned in August.

Mr Zardari’s aides dismissed the allegations as politically motivated. Farhatullah Babar, the chief spokesman for the President, said: “Reports of $1.5 billion dollars of national and foreign assets allegedly belonging to President Zardari are no more than regurgitation of a decade old unproven politically motivated allegations.”