FIA declares Shehbaz Sharif, his sons prime suspects in money-laundering scam

LAHORE: Federal Investigation Agency (FIA) has found Leader of the Opposition in the National Assembly Shehbaz Sharif and his sons Hamza Shehbaz and Suleman Shehbaz as prime suspects for their alleged involvement in laundering Rs16 billion in the sugar scam case.

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On Saturday, a special court (offences in the bank) had issued a show-cause notice to FIA Director Zone-I Dr Rizwan Ahmad for not filing the challan, consisting of seven volumes and 400 pages, of the case.

However, in a challan, submitted before a banking court on Monday, the FIA claimed that the father-son duo failed to provide a money trail and submitted a list of 100 witnesses and incriminating material against them.

Shehbaz’s son Suleman had been declared absconder while 14 clerks and peons (ostensible account holders) and six abettors had been nominated as co-accused and accomplices.

The FIA investigation team had found 28 secret bank accounts that were being run in the name of clerks and peons of the Sharif family in Lahore and Chiniot.

These accounts were opened and run during both stints of Shehbaz as Punjab chief minister and while his other son, Hamza was a member of the national assembly.

Investigators also scrutinized 17,000 credit transactions of Rs 16.304 million done in 28 bank accounts and found concrete evidence that heavy money was concealed through them.

It was further revealed that the money had nothing to do with the sugar business and included a sum directly given to Shehbaz as gratification.

Investigation teams further found that Shehbaz was involved in $5million money laundering in 1998 when he was the chief minister.

Shehbaz illegally had sent money aboard in the name of a Bahrain based woman Sadiqa Syed with the help of former federal minister Ishaq Dar.

Another case of money laundering against the Sharif family was also pending adjudication before an accountability court at Lahore, it added.

The challan alleged that Shehbaz and Hamza, from 2008 to 2018, held public offices and illegally accumulated Rs16 billion.

“FIA has credible evidence that over Rs25 Billion were deposited (including gratifications from sources extraneous to sugar-business) opened and operated in the name of low-wage employees of Ramzan Sugar Mills, Al-Arabia Sugar Mills/ fake companies. Shehbaz Sharif received cheques (worth Rs5 Million) from Aurungzeb Butt, which ended up being deposited into the account of Gulzar A Khan (deceased), a peon of Ramzan Sugar Mills,” the FIA anti-corruption circle Lahore asked Shehbaz during the investigation.

Shehbaz replied that “the allegations in this FIR are forged and concocted. The concoction is similar to the concoction made by NAB in the fake TTs/money laundering reference, presently under trial in NAB accountability court.”

“I had neither been a director/share-holder nor have I ever drawn any salary or dividends from Ramzan Sugar Mills. As far as a specific response to this or any other question is required, I’ll give that response after consulting my counsel/ legal team at an appropriate time,” Shehbaz added.

When asked that gratifications in cash were received on Shehbaz’s behalf by Suleman in bulk-cash at former chief minister’s residence cum-camp office located at 87/96-H Model Town Lahore, and transported using your bullet-proof (green) Land Cruiser to Sharif Group’s Corporate Office at 55-K Model Town Lahore for onward structured deposits into various accounts by your trusted cash officers, Shehbaz said that he would give a response after consulting his counsel/legal-team at an appropriate time.

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“Being the head of your family (spouse and children), was it not your responsibility to see why your family-owned businesses/assets were engaged in an organized spree of money laundering and consequently your family was amassing wealth (pecuniary resources) beyond known sources of income, suppressing the due diligence mechanisms of the financial institutions, while you also held the office as Chief Minister Punjab (2008-2018)?” FIA further asked Shehbaz.

Shehbaz reiterated that he would first consult his legal team.

The special court (offences in the bank) would now commence the trial against the Sharif family members.