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Benazir Bhutto and Asif Ali Zardari

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A consumate politician, Benezir Bhutto was twice appointed Prime Minister of Pakistan (1988-1990 and 1993-1996). On both occasions she was dismissed from office for alleged corruption and misrule or bad governance.  1 Between 1998 and 2007 Bhutto lived in exile from Pakistan in Dubai and London. She returned to Pakistan in October 2007 after reaching an understanding with President Pervez Musharraf by which she was granted amnesty and all corruption charges were withdrawn. However, Benazir Bhutto political life was ended with her assassinated on December 27, 2007.

Her husband Asif Ali Zardari (now the current President of Pakistan) also played a prominent role in both administrations. He served as Minister of Investment from 1993 to 1996. During Bhutto's terms as prime minister, Zardari is alleged to have masterminded various corruption related activities involving millions of dollars with Bhutto's knowledge. Zardari gained the reputation of demanding a certain percent of government contracts issued to business people, thereby earning a succession of nicknames: Mr 5 Percent, Mr 10 Percent, Mr. 20 Percent, Mr 30 Percent, and Mr 100 Percent. In total, Bhutto-Zardari accumulated assets worth over $100 million in the United Kingdom, France, Switzerland, the United States of America and the British Virgin Islands (BVI). 2 Some estimates place Bhutto-Zardari loot at more than $ 1.5 billion. This sum allegedly came from illicit profits through kickbacks in every sphere of government activity, including: rice export deals, the sell-off of state land, purchase of planes for Pakistan International Airlines, sugar mills, oil and gas permits, awarding of broadcast licenses, privatization of state-owned industries and rake-offs from state welfare schemes.3

 

Notes

  1. BBC News 'Obituary: Benazir Bhutto' http://news.bbc.co.uk/2/hi/south_asia/2228796.stm
  2. Raymond W. Baker (2005) Capitalism's Achilles Heel, New Jersey: John Wiley & Sons, Inc. page 79.
  3. John F. Burns 'House of graft: tracing the Bhutto millions- a special report; Bhutto clan leaves trail of corruption' The New York Times http://www.nytimes.com/1998/01/09/world/house-graft-tracing-bhutto-millions-special-report-bhutto-clan-le

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Case of Benazir Bhutto and Asif Ali Zardari

Allegedly Involved:US$ 1.5 billion
Frozen So Far:
Traced So Far:US$ 100 million
Recovered:-
Origin:Pakistan

Case info

Countries Involved

The following countries are linked to this case:

Visit the country profile of these countries: British Virgin Islands, United Kingdom, Switzerland, Pakistan.

Document Source

Title Capitalism's Achilles Heel: Dirty money and how to renew the free-market system
Author Raymond W. Baker
Publisher John Wiley & Sons, Inc
Rel. parts pages 76 - 87
Pub. date Sat, 1 Jan 2005