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Shahzad Akbar Reveals Details of Rs22bn Money-Laundering Committed by Sharif Family

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LAHORE– Adviser to Prime Minister on Accountability and Interior Mirza Shahzad Akbar Thursday disclosed that Rs15 billion had been deposited in fake accounts of 12 lower grade employees of the Sharif Group from 2008 to 2018, and Rs7 billion were deposited in six fake companies’ accounts.

Addressing a press conference at 90 Shahra-e-Quaid-i-Azam here, he said that during these years, a high turnover of Rs 15 billion was found in the bank accounts of 12 low salaried workers of Ramzan and
Al-Arabia sugar mills.

The details of these account-holders and deposited money is as under:- During 2016-17, in a bank account of Malik Maqsood, a tea boy/peon of the Sharif Group Managing Director Suleman Shahbaz, Rs 3.7 billion had been deposited and the person escaped to the United Arab Emirates (UAE) in 2018 when the National Accountability Bureau (NAB) started investigation against Suleman Shahbaz.

From 2014 to 2017, Rs 2.3 billion had been deposited in the bank
account of Muhammad Aslam, a peon of the Ramzan Sugar Mills; from 2011
to 2014, Rs 1.67 billion were deposited in bank account of Azhar
Abbas, a clerk of Ramzan Sugar Mills; from 2012 to 2014, Rs 1.57
billion were deposited in the account of Ghulam Shabbar, another clerk
of Ramzan Sugar Mill; from 2010 to 2014, Rs 1.42 billion were
deposited in the account of yet another clerk, Khizar Hayat Nazar of
Ramzan Sugar Mills; from 2012 to 2015, Rs 1.18 billion were deposited
in the account of Iqrar Hussain, a clerk of Ramzan Sugar Mills, from
2011 to 2015, Rs 880 million deposited in account of Muhammad Anwar,
another clerk of Ramzan Sugar Mills, Rs 562 million were deposited in
the bank account of Tauqeeruddin, manager sales of Ramzan and
Al-Arabia sugar mills, from 2012-13, Rs 512 million were deposited in
account of Tanveer-ul-Haq, a Sharif Group data entry operator; Rs 461
million were deposited in account of Kashif Majeed, accounts clerk of
Ramzan Sugar mills, from 2012 to 2017, Rs 425 million were deposited
in account of the late Gulzar Ahmad Khan, a peon of Ramzan Sugar
Mills.
Shahzad Akbar said that even after the death of Gulzar Ahmad Khan in
February 7, 2015, a trust worthy cashier of Sharif Group kept on
operating his account.
From 2009 to 2011, Rs 230 million were deposited in the account of
Masroor Anwar, a trustworthy cash boy of the Sharif family.
Sharif Group Chief Financial Officer (CFO) Muhammad Usman opened these
accounts for personal transactions of Suleman Shahbaz Sharif, he
added.
He said that Rs 22 billion was not of business or sugar related money,
adding that forensic of these accounts had been carried out. Perhaps
only Rs 3 billion might be linked with sugar related business and the
rest amount was not linked with any business, he added.
He said that the big portion of the money was taken from contractors,
businessmen, politician or as patronage extortion.
He said that parallel banking was practised in certain bank branches
in connection with money-laundering.
About fake companies, he revealed that from 2010 to 2018, Rs 7 billion
had been deposited in six fake companies. He said that proprietors of
these companies were lower salary people of the Sharif Group or have
fake identities.
These companies were not registered with the Securities & Exchange
Commission of Pakistan (SECP) and Federal Board of Revenue (FBR). For
opening of these bank accounts, fake letter heads of the fake
companies were used and banks failed to carry out proper inspection
while opening the accounts.
An account in the name of Al-Fakhri Traders was opened, in which Rs
2.8 billion were deposited  during 2008-10; from 2011 to 2013, Rs 1.32
billion were deposited in account of Waris Traders; from 2010 to 2018,
Rs 1.24 billion were deposited in account of Akbar Traders, from 2010
to 2014, Rs 998 million were deposited in account of Rashid Traders,
Rs 558 million were deposited in the account of Jami Enterprises, and
from 2008 to 2016, Rs 145 million were deposited in the account of T&A
traders.
Shahzad said that systematic money laundering was done to avoid cash
transaction report (CTR).
He said that Shehbaz Sharif was facing mental unrest. He put three
questions before Shehbaz Sharif
Doesn’t Shehbaz Sharif know Masroor Anwar and Shoaib Qamar, he asked.
Shahzad Akbar said that Masroor Anwar and Shoaib Qamar were cash boys
in the custody of NAB and transactions worth billion of rupees were
made through them.
He asked if Shehbaz Sharif was unaware as to where from money was
coming in his account?
He questioned how Shehbaz bought four flats in London? What was the
source of income of the Shehbaz Sharif family members living in
London?
He said that Shehbaz Sharif should be asked how his family was
residing in London? Had they obtained British citizenship? What was
citizenship status of Suleman Shehbaz, he questioned.
To another question, he said that the PML-N wanted to hold public
gathering at congested place to show large strength of people and they
wanted to play with the health of people of Gujranwala during present
situation of COVID-19.
If standard operating procedures (SOPs) with regard to safety from
COVID-19 would not be implemented properly, the virus could hit small
areas, he added.
He said that now the responsibility lied with the leadership of the
PML-N and the PPP that how they follow the SOPs to avoid the spread of
COVID-19.
To another query, he said that the British government had been
requested through a letter to send Nawaz Sharif back to Pakistan.
About price-hike, he said that things were closely being monitored and
hoped that things would improve in coming days.
To another query, he said that the PPP parliamentarians would never
tender resignation from the assemblies.

SOURCE: APP