Leader of the opposition in National Assembly Muhammad Shehbaz Sharif had laundered over Rs 25 billion through fake IDs, bank accounts operated in the name of peons, clerks of family owned businesses.
Details of Shehbaz Sharif’s money laundering case
The trusted cashboys of Sharif family have disclosed that bulk-cash was received by or on behalf of Muhammad Shehbaz Sharif, at his residence cum Camp Office located at 87/96-H Model Town, Lahore and Suleman Shehbaz Sharif who lived at the same house mostly received it.
The low-wage employees of RSML/ ASML, have disclosed in interviews and investigations that they had been victims of identity-theft and if they signed any Account Opening Forms, they did that under duress and had not benefited from the money-laundering. Hence they are being treated as witnesses and not suspects.
Zahid Ali, DGM Finance of Sharif Group disclosed that these bank-accounts were operated to conduct personal (secret) transactions of Suleman Shahbaz on the instructions of M. Usman CFO of Sharif Group. M. Mushtaq Cheeniwala, a sugar-broker of RSML, has disclosed after consulting his “secret-ledgers” that the money from undisclosed sale of sugar deposited into these accounts is only Rs. 3.95 billion implying therein that the source of remaining funds is “extraneous” to sugar-business (sweet money) and can best be explained by Muhammad Shehbaz Sharif and his sons Hamza Shehbaz & Suleman Shehbaz for whose benefit these accounts were managed.
A criminal inquiry against financial crimes the Sharifs was registered by FIA, anti-corruption circle Lahore with the approval of cabinet.
The cash was then used for expenses by the Sharif family and was handed over to RSML/ ASML managers for parking into various accounts and transfer abroad via hundi/ hawala.
During the course of inquiry, preponderance of evidence demonstrated that the sugar mills owned by the Shehbaz Sharif family – Al-Arabia & Ramzan Sugar Mills Ltd (RSML) were involved in organized mega money-laundering and financial/ corporate fraud, through the operation of fictitious ID bank accounts (2008 to 2018), on a much wider scale than had been encompassed by the Sugar Inquiry Commission Report.
The Anti-Corruption Circle (FIA) Lahore had registered the FIR against the 57 fictitious ID accounts being operated (by the Sharifs) in the names of peons/ clerks.
The inquiry has revealed that total deposits amounting to over Rs. 25 billion were received/ parked in at-least 57 fictitious ID bank accounts (discovered so far) were being operated in the name of twenty (20) low-wage employees (peons/ clerks) of RSML and fictitious companies set-up and controlled for the benefit of the Sharif family.
The details included Rs 3.7 billion in 2016/17 in A/C opened/ operated in the name of a peon/ tea-boy namely Malik Maqsood (CNIC 35202-8543994-9) working at office of Suleman Shahbaz at Sharif Group’s corporate head-office, 55-K Model Town Lahore.
Similarly, Rs 2.8 billion in 2008-10 in account opened/ operated in the name of a fake company Al-Fakhri Traders of one Haji Naeem, a small furniture-shop owner of Chiniot (CNIC 33201-3406759-7) who is a friend/ neighbor of M. Mushtaq Cheeniwala (CNIC 33201-9827307-3) who is a known front man of Sharif family.
Likewise, Rs 2.5 billion in the name of fake companies Waris Traders & Waris Enterprises of M. Waris (CNIC 35404-1963149-1), driver of M. Mushtaq Cheeniwala. Rs 1.75 billion account operated in the name of RSML peon Muhammad Aslam (CNIC 33203-1458286-7) 2014-17. While Rs 1.67 billion in the account which was operated in the name of RSML clerk Azhar Abbas (CNIC 33201-2624716-9), 2011-14. Rs 1.57 billion in the name of RSML clerk Ghulam Shabbar (CNIC 42301-0952832-9), 2012-14. Rs 1.55 billion in the name of Abdul Jabbar, a small cane-grower who supplied cane to RSML (CNIC 33303-2186540-1). Rs 1.42 Billion opened/ operated in the name of account of RSML clerk Khizar Hayat (CNIC 33201-1673846-5), 2010-14. Rs 1.37 billion in the Account opened, operated in the name of one Qaisar Abbas (CNIC 34302-6414795-1) RSML. Rs 1.28 billion in account opened/ operated in the name of RSML peon Gulzar A. Khan (late), (CNIC 32203-2026614-7), Gulzar Ahmed Khan died on February 7, 2015, but even after his death, his account was operated by trusted cashiers/ riders of Sharif Group. Rs 1.25 billion parked in account of Akbar Traders, a fake company operated in the name of Syed M. Akbar (CNIC 35202-3231396-7); fictitious ID used for A/C opening while AOF Address is Office no.1, 2nd Floor Gohar Centre, Wahdat Road Lahore; office of M. Mushtaq Cheeniwala. Rs. 1.18 billion in account opened/ operated in the name of RSML clerk Iqrar Hussain (CNIC 33202-1397479-5), 2012-15. Rs. 880 Million in the account opened/ operated in the name of RSML clerk M. Anwaar (CNIC 38303-0962916-1), 2011-15. Rs. 715 million in account opened/ operated in the name of RSML godown clerk M. Yaseen (CNIC 33100-5715622-5). Rs. 555 million in account opened/ operated in the name of a fake company Jami Enterprises of Ghazanfar Ali (CNIC 34302-4879990-9), employee of M. Mushtaq Cheeniwala. Rs. 562 Million in A/C opened/ operated in the name ofTauqeer-ud-din Aslam (CNIC 35202-7163057-7) Manager sales of RSML and ASML. Rs. 525 million in account operated in the name of RSML accountant Zafar Iqbal Anjum (CNIC 33105-5312188-5). Rs. 512 million in 2012/13 in account operated in the name of Tanvir-ul-Haq (CNIC 33105-9728452-9), Data Entry Operator of Sharif Group Corporate Office located at 55-K Model Town Lahore. Rs. 461 million in A/C opened/ operated in the name of Kashif Majeed (CNIC 33303-1136803-1) RSML clerk. Rs. 230 million were deposited in the account of Masroor Anwar in 2009-2011 who is a trusted personal cashier/ rider of Mian M Shehbaz Sharif.
The vouchers, cheques, money-trail of deposits into these accounts have revealed that money was being deposited by various people including politicians, government contractors, petroleum-dealers, pharmaceutical vendors, gas intensive small-steel units, flour and rice mills owners etc.
At-least 250 low-profile businesses (very small traders/ merchants etc) have been identified regarding which there is indelible documentary evidence (money-trail) of deposits into the 57 fictitious ID accounts of peons/ clerks controlled by Sharif family.
There are total 55,894 transactions made into these accounts out of which 15,869 transactions are of Rs. 1 million or above. The 250 low-profile businesses found to be making deposits into the aforementioned accounts controlled by Sharif family, are categorized as like shoes & cloths stores, PCO and easy-load Shops. mobile-phone shops. photostat shops. auto workshops, tyre, toy, furniture shop, electronics vendor, carpets rugs shops, small pharmacies, paint, sanitary-ware shops, property agents, low-profile restaurants, iron, steel stores, dry fruit shops, steel furnace, travel agents, petrol pumps, CNGs, Oil & Lube, Jewelery shops, cotton,mills, rice, wheat mills, small contractors, builders and junior govt officials.
An instance of transfer of money from a UBL Omni account (linked to Ehsaas Program for the poor people) has also been detected.
Investigation so far has revealed that all the money was withdrawn from aforementioned accounts invariably in cash (to break the onward money-trail) mostly in a structured manner (keeping each withdrawal below Rs 2 million so that it is not detected in the CTR reporting threshold of FMU).
After withdrawal, the money was either utilized locally or transferred out of country via IMVTS (illegal money/ value transfer services also known as “hawala”).The cash-boys linked to cash-withdrawals from these accounts have gone underground to evade apprehension.
The names of these cash-boys and the hawala-dealers linked to shifting of money abroad are not being documented in any correspondence in the interest of investigation.
Ramzan Sugar Mills Ltd, which acted as a vehicle of money-laundering (2008-2018), is a private business owned by the family-members of Muhammad Shehbaz Sharif included Ms Nusrat Shehbaz (Director & 46 percent shareholder, Hamza Shehbaz (Director/33 percent shareholder CEO 2009 to 2018. Suleman Shehbaz (Director/19 percent shareholder) CEO 2018 onwards. Javeria Ali-daughter (1 percent shareholder), daughter of Shehbaz Sharif, Rabia Imran- daughter (1 percent Shareholder) daughter of Shehbaz Sharif, Ayesha Haroon – daughter (1 percent shareholder) daughter of Shehbaz Sharif. Abscondence (International) of key-accused. Suleman Shehbaz absconded to UK on October 27, 2018 to evade NAB investigation (then) and was subsequently declared a proclaimed offender (on 28th October 2019) by the Accountability Court Lahore.
For the same reason Suleman Shehbaz could not be investigated in the instant FIA Case regarding laundering of Rs. 25 billion through fake accounts. However, warrant of proclamation dated January 12, 2021 against Suleman Shehbaz has been issued by the competent court. Not only that Suleman Shehbaz himself absconded to UK, but he caused the abscondence of two other key co-accused included Syed M Tahir Naqvi- former shapes gym manager/ trainer of Hamza & Suleman Shehbaz – turned Manager RSML. He was responsible for transporting cashbags securely from the ex-CM’s Camp Office (96-H Model Town Lahore) to the Sharif’s Corporate Head-Office located at 55-K Model town Lahore.
He has been declared proclaimed offender on 20-4-2021 in the instant Rs 25 billion money laundering Case. Malik Maqsood Ahmed Peon/ tea-boy – working directly under CEO RSML. He was responsible of providing instructions to various parties regarding the deposits (amount, account number etc) that each of them was required to make in any of aforementioned fictitious ID accounts in a “secret” manner.
Mian Shehbaz Sharif and Hamza Shehbaz did not cooperated with the investigators despite the fact that both had been beneficiaries of bulk-cash from RSML. Mian M Shehbaz Sharif and Hamza Shehbaz were served five written questions each and provided interview opportunity in Kot-Lakhpat Jail on December 18, 2020 and January 8, 2021. Hamza Shehbaz, despite being CEO RSML (2008 to 2018- period of money laundering) totally denied that he had anything to do with any affairs of RSML. He shifted the complete responsibility of all these crimes to Suleman Shehbaz (absconding brother).
Shehbaz Sharif took a cautious approach and said he will not make any formal statement regarding these questions without consulting his legal team, although he was well aware that no law expert can defend the operation of fictitious accounts operated in an orchestrated and organized manner over ten-years.
Ata-Ullah Tarar, the counsel of Shehbaz Sharif had submitted a half-page reply in FIA on February 2, 2021 which merely stated the questions framed were bald and vague and were politically motivated with a view to muffle his voice as Leader of the Opposition, so he would not respond the questions. Since the above responses were irrelevant and evasive, Mian M Shehbaz Sharif and Hamza Shehbaz were pre-served twenty supplementary questions pertinent to investigation and required to appear in FIA Lahore Office on June 22 and June 24 respectively.
Mian M Shehbaz Sharif persisted with his state of denial and aggressive attitude. Even to very simple and polite questions, like as to which of your two sons were looking after the financial affairs of RSML and its associated family owned businesses (while you were CM Punjab) he said he did not know that, and that the question is totally wrong. FIA has no right to ask such irrelevant questions.
He advised the FIA team that it would be better if FIA asks this and other question from his sons. Hamza Shehbaz was totally confused and evasive during his appearance at FIA. Not only that he denied that he had any knowledge regarding who was depositing bulk-cash in the aforementioned fictitious ID accounts (peons/ clerks RSML), he denied that he had any knowledge regarding as to who was depositing bulk-cash into his personal accounts.
He went a step-further and attempted to threaten the head of the investigation team in couched words (me apko bata doon waqt sada ek jaisa nhi rehta).
A latest turn in the investigation, which has virtually slowed the progress of investigation, is that senior officials of a commercial bank, Asim Suri VP and Azhar Mehmood SVP has been found to be attempting (unsuccessfully) to manipulate and suppress the witness-statements of bank managers in Court, to save the Sharif family from the serious implications of this mega money-laundering case.
The evidence showed that the PEP’s family-owned businesses which had not only been acting as vehicle of mega money-laundering (especially during the period of Mian M Shehbaz Sharif in power as Chief Minister) but as shield to cover various financial wrong-doings, which hardly any legal expert can even think of venturing to defend.
The issue of non-cooperation by Mian M Shehbaz Sharif and Hamza Shehbaz was raised by FIA before the honorable Special Court Banking (Crimes) Punjab-1 at Lahore during the last hearing of September 25, 2021, whereby the court was pleased to direct both to cooperate with the FIA Investigation. The hearing is adjourned to October 9, 2021. The pre-arrest bail and progress of investigation is contingent upon “cooperation” by both Mian M Shehbaz Sharif and Hamza Shehbaz.
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