Islamabad: A Pakistani court on Monday arrested former Pakistan President Asif Ali Zardari in fake bank accounts case.

A two-member bench of the Islamabad High Court (IHC) had rejected an application seeking extension in the pre-arrest bails of Zardari and his sister Faryal Talpur.

Notably, the arrests warrants were issued by anti-corruption watchdog National Accountability Bureau (NAB) which is conducting the investigation in the case. The case relates to the use of alleged fake bank accounts to keep money and transferring it out of Pakistan.

The duo made transactions of Rs 150 million through alleged fake bank accounts, the NAB officials said.

On May 14, the anti-corruption unit furnished details of inquiries, investigations and references in the fake accounts case.

In the report, NAB listed down at least eight cases where Zardari’s link had been established. It further added that 22 inquiries and three investigations were underway while three references had been filed.

In December 2015, the Federal Investigation Agency (FIA) began a discreet investigation into certain bank accounts through which multi-billion rupee transactions were made.

By June, the FIA had several high-profile names on its list but was unable to make headway for several reasons.

The Supreme Court intervened and then chief justice Mian Saqib Nisar took notice of the ‘slow progress’ in the money-laundering case. In July, Zardari’s close aides Hussain Lawai, Taha Raza and two others were arrested.

The apex court also ordered the formation of a Joint Investigation Team (JIT) to quicken the pace of the investigation.

The JIT identified 11,500 bank accounts and 924 account holders at the start of their investigation.

(With agency inputs)