Shahzad Akbar reveals explosive details of Ramazan Sugar Mills case

Mirza Shahzad Akbar, Advisor to Prime Minister on Accountability & Interior(Federal Minister) spoke of the Sharif family's involvement in money laundering and corruption through front companies.

money laundering

Mirza Shahzad Akbar, Advisor to Prime Minister on Accountability & Interior(Federal Minister), in a press conference Wednesday, exposed the vehement corruption and money laundering of Shehbaz Sharif, Mian Nawaz Sharif and the Sharif family at large. 
He held that the Sharif family had laundered billions of Rupees through front companies they had not registered under their own names. Case against Shehbaz Sharif and other family members were still pending, and four people were approvers in the cases who have turned witnesses for the state giving statements against the Sharif family providing the prosecution with supporting facts and figures as well as their own involvement.
Shahzad stated 3 companies owned by the Sharif family that were involved in money laundering and corruption which included Good natured trading Pvt Ltd, Unitas Steel, and finally Nisar Trading concern. Shahzad also gave the names of two trusted ‘cash boys’ of the Sharif family who were entrusted with the transfer of funds and depositing of bank checks. The two persons were tracked through their NIC.

Ramazan Sugar mills money laundering exposed

Taking the example of the Sharif family’s Ramazan sugar mills, Shahzad said that the mills were accountable for embezzling funds and have laundered a total of Rs9 billion which was done through registering bank account under the names of their employees.
He stated the names of 11 employees who were complicit alongside their bosses in the money laundering process. One such employee was Malik Maqsood who is a clerk in the Sharif group of companies, who has a monthly salary of Rs16,000, but had an amount of Rs2.3 billion deposited in his bank account which was later taken out. This individual instance of money laundering took place in a time span of 2 years, from 2016 to 2017.
Shahzad ended the press conference by posing four questions to Shehbaz Sharif while stating the accused hasn’t answered his previous questions either. The quesitons included: Were Hamza Shehbaz and Suleman Shehbaz not involved in corruption from 2008 to 2010 under your supervision? Is it not correct that you have made a money laundering system in order to clean your money, which was supervised by Suleman Shehbaz? Is it not correct that in order to clean your money and lessen your funds to evade money laundering charges you bought assets such as Whispering Pines and houses in DHA? Can you tell us how Suleman Shehbaz and Ali Imran (who are situated in London currently) are paying their expenses and what is their business in London that is contributing to their earnings?

Suleman Shehbaz’s peon, clerk appear to be billionaires

The peon and clerks of Suleman Shehbaz, the youngest son of Opposition Leader in National Assembly Shehbaz Sharif, have money in their accounts worth billions, The Express Tribune reported on Tuesday. According to the report, the Federal Investigation Agency (FIA) Banking Crime Circle Lahore traced secret bank accounts of Suleman’s employees with Rs9.5 billion deposits.

The report relied on sources in the FIA and claimed that the employees worked in the Ramzan Sugar Mills and Al-Arabiya Sugar Mills. The FIA had reportedly provided details of those accounts to a Joint Investigation Team (JIT), which was looking into the case. Maqsood, a peon, had Rs2.3 billion in his account and he also bought a Mercedes worth Rs15 million from that money, the publication said.

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Similarly, Shabbir Qureshi, a clerk, had Rs1 billion in his account; Rs240 million was found in Rana Wasim’s account, Rs640 million in Iqrar’s account, and Rs520 million in clerk Tanveerul Haq’s account. Rs1.2 billion was deposited in the account of Accounts Clerk Khizar Hayat, and Rs450 million was deposited in the account of Tauqeeruddin.

“The FIA, Banking Crime Circle, Lahore has traced these secret bank accounts and provided information to the JIT, while the FIA’s Banking Crime Circle has expanded the scope of the investigation and sought details of the accounts of all these employees,” the report said.

According to the report, details had also been sought from the Securities and Exchange Commission of Pakistan (SECP) regarding companies in the name of these employees. It added that once all the details are received, a full report will be provided to the JIT.

A combined investigation team (CIT) of the FIA had summoned the employees of the Sharif family for investigation. The employees of the Al-Arabiya Sugar Mills appeared before the investigation team and recorded statements about their bank accounts, The Express Tribune reported.

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Notably, the National Accountability Bureau (NAB) decided to approach the National Crime Agency in UK and Interpol for the extradition of Salman Shehbaz, as he had been declared a fugitive in a money laundering case against the Sharif family. However, it did not take place.

GVS News Desk
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