Pakistan

PM Shehbaz & Hamza acquitted in money laundering case

Published by

Web Desk

4 years ago

PM Shehbaz & Hamza acquitted in money laundering case. The Special Court, Central, Wednesday acquitted Prime Minister Shehbaz Sharif and his son Hamza Shahbaz in the Rs16 billion money laundering case lodged against them by the Federal Investigation Agency.

The court announced its judgment in the mega money laundering case against the Shehbaz family after the FIA prosecutor informed the court that no money was directly deposited in the accounts of the father-son duo.

The father-son duo — who were summoned today — did not appear before the court as their counsel filed a request for exemption as PM Shehbaz had official engagements and Hamza was not well.

The court acquitted the prime minister and his son after the FIA — last week — had cleared the PML-N leaders on the charges of laundering Rs16 billion as there was “no direct evidence” against the father-son duo.

In the previous hearing, Special Court Judge Ejaz Awan asked about the number of bank accounts owned by the Malik Maqsood — also known as Maqsood Chaprasi.

The FIA prosecutor Farooq Bajwa responded that late Maqsood had eight bank accounts to his name.

The prosecutor further stated that no money was either directly deposited or withdrawn from the accounts of the suspects, including Shehbaz and Hamza.

The judge asked what evidence was there to substantiate that the entire money dealing was being done at Hamza’s behest.

In response, FIA’s prosecutor said the agency does not have “any evidence” linking him to money laundering.

The case

In December 2021, the FIA had submitted the challan against Shehbaz and Hamza before the special court for their alleged involvement in laundering an amount of Rs16 billion in the sugar scam case.

According to the FIA report submitted to the court, the investigation team has “detected 28 benami accounts of the Shehbaz family through which money laundering of Rs16.3bn was committed during 2008-18. The FIA examined the money trail of 17,000 credit transactions.”

The report added that the amount was kept in “hidden accounts” and given to Shehbaz in a personal capacity.

This amount (Rs16 billion) has nothing to do with the sugar business (of the Shehbaz family), it claimed.

The money received from the accounts of low-wage employees by Shehbaz was transferred outside Pakistan via hundi/hawala networks, ultimately destined for the beneficial use of his family members, the FIA had alleged.

“Eleven low-paid employees of the Sharif group who ‘held and possessed’ the laundered proceeds on behalf of the principal accused, are found guilty of facilitating money laundering,” the agency had said.

“The three other co-accused of the Sharif group also actively facilitated the money laundering,” it had added.

Web Desk