LAHORE: On February 18, a special court in Lahore will indict PML-N President Shehbaz Sharif, his sons Hamza and Suleman, and others for allegedly laundering over Rs16 billion in the sugar scam case.
In November 2020, the Federal Investigation Agency (FIA) charged Shehbaz, Hamza, and Suleman Shehbaz with financial fraud, impersonation, and forgery under sections 419, 420, 468, 471, 34, and 109 of the Pakistan Penal Code, as well as 5(2) and 5(3) of the Prevention of Corruption Act and r/w 3/4 of the Anti Money Laundering Act.
According to the FIR, about Rs25 billion was deposited in the bank accounts of several low-wage employees of Ramzan Sugar Mills and Al-Arabia Sugar Mills between 2008 and 2018. The Sharif Group set up and controlled the accounts of these fictitious companies, according to the FIR.
Suleman has escaped justice and is currently residing in the United Kingdom.
Fourteen people are listed in the FIR under sections 5(2) and 5(3) of the Prevention of Corruption Act (criminal misconduct), as well as section 3/4 of the Anti-Money Laundering Act. Shehbaz and Hamza’s pre-arrest bails were extended by the special court on January 27.
During Thursday’s hearings, the FIA asked the court to cancel Shehbaz and his son’s pre-arrest bails. The FIA’s lawyer stated that he was prepared to offer arguments for the bails to be cancelled. The court ordered the agency to give the suspects copies of the challan.
Later, the court issued a brief ruling stating that the suspects would be indicted on February 18.
On January 14, a banking offences court granted the FIA’s request to hear the money laundering and sugar fraud case against the PML-N president and his son, despite the fact that the FIA had challenged the court’s authority. The court ruled that the case was not within its jurisdiction, and the challan was returned to the FIA. It instructed the agency to file it in the appropriate court. The FIA subsequently filed the challan with the special court in Lahore (Central-I).
The FIA had filed a challan against the PML-N president and Hamza in a special court in December last year for their alleged role in laundering Rs16 billion in the sugar scam case.
“The investigative team discovered 28 benami accounts belonging to the Shehbaz family, through which Rs16.3 billion was laundered between 2008 and 2018.” “The FIA looked into the money trail of 17,000 credit transactions,” the report stated.
The money was maintained in “secret accounts” and provided to Shehbaz on a personal basis, according to the report. The FIA said that the Rs16 billion had nothing to do with the Shehbaz family’s sugar business.
“Shehbaz received money from low-wage employees’ accounts and transferred it outside Pakistan via hundi/hawala networks, eventually for the benefit of his family members.”
