Abdul Razzak Yaqoob
| Abdul Razzak Yaqoob | |
|---|---|
| Born |
7 May 1944[1] Karachi, Sind, British India |
| Died |
21 February 2014 (aged 69)[1] London, United Kingdom |
| Residence | Dubai, United Arab Emirates |
| Nationality | Pakistani |
Abdul Razzak Yaqoob (7 May 1944 – 21 February 2014) was a Pakistani gold bullion trader who founded ARY Gold in the United Arab Emirates and later ARY Media Group.
He was associated with ARY Gold bribery scandal in which he gave a bribery of US$10 million to Bhutto government to get exclusive rights to trade gold.
Early life
He was born in Surat, British India to Memon family in 1944 which later migrated to Karachi after partition.[2]
Business career
Yakoob moved to the United Arab Emirates in the 1960s and started gold business with an outlet in Dubai. He founded ARY Group in 1972 and launched a private television channel ARY Digital in 2000.[2]
He was associated with ARY Gold bribery case in which he paid bribery to then Finance Minister of Pakistan Asif Ali Zardari to get exclusive rights to import and trade Gold in Pakistan.[2] In January 1994, Schlegelmilch established a British Virgin Island based offshore company named Capricorn Trading, S.A., with Zardari as its owner.[3] Nine months later, an account was opened at Citibank Dubai branch in the name of Capricorn Trading so Yaqoob can pay bribery.[3] After opening of account, Yaqqib deposited $5 million in the account. Two weeks later, ARY further paid $5 million in bribery.[3]
Death
References
- 1 2 "ARY Founder Haji Abdul Razzaq passes away". Dawn. 21 February 2014. Retrieved 28 Aug 2016.
- 1 2 3 4 Reporter, The Newspaper's Staff (22 February 2014). "Founder of ARY Group passes away".
- 1 2 3 Burns, John F. "HOUSE OF GRAFT: Tracing the Bhutto Millions -- A special report.; Bhutto Clan Leaves Trail of Corruption".