Saturday, October 31, 2020

Pakistan: Hamza Shahbaz’s remand extended in money laundering case

-

LAHORE: An accountability court on Saturday extended physical remand of Leader of Opposition in Punjab Assembly Hamza Shahbaz for another seven days in a case of alleged illegal assets and money laundering.

The officials of the National Accountability Bureau (NAB) presented Mr Hamza before the court while its special prosecutor Hafiz Asadullah Awan submitted an application for 15-day extension in his physical remand.

At the outset of the hearing, Presiding Judge Ameer Muhammad Khan asked the prosecutor as to how many days Hamza had already spent on physical remand with the NAB.

The prosecutor said the suspect was on remand for the last 52 days, however, new evidences had been surfaced against him and his brother Salman Shahbaz after employees of their companies were interrogated by NAB.

- Advertisement -

The prosecutor also filed a report to the court and stated that assets worth Rs3.3 billion had been “identified” so far as illegally accumulated by Hamza, his brother Salman and their father Shahbaz Sharif.

The report alleged that the family of the suspect committed massive money laundering in the name of foreign remittances and loans. It said both brothers established two “benami” companies in 2016 — M/s Unitas Steel and M/s Good Nature Trading.

RelatedPakistan: NAB arrests Faryal Talpur in money laundering case

It said chief financial officer of the Unitas Steel, Nadeem Saeed and other officials of the company had been interrogated by the NAB. The suspects also established another benami company — M/s Unitas Distillery — which was not found in the Federal Board of Revenue (FBR) record.

- Advertisement -

It said Hamza received benefits from different family members, including brother Salman and sister Ms Rabia Ali under the garb of gifts. It claimed that investigation conducted so far revealed that Salman and Ms Rabia received foreign remittances in their bank accounts, which were found to be “fictitious”.

The report said both Salman and Ms Rabia had not joined investigation while the suspect (Mr Hamza) in custody had been non-cooperative in the investigation.

The prosecutor urged the court to grant further remand of the suspect as his custody was essential to procure more evidence, detection of “hidden assets” and recovery of “crime proceeds”.

RelatedPakistan: Former PM, Yousuf Raza Gillani summoned by NAB in money laundering case

On the other side, defence counsel Amjad Pervez said whatever the NAB’s report said was not new. He said the prosecutor had already mentioned Unitas Company on the last hearing.

He said all the companies and properties mentioned by the NAB were already declared in all tax documents. He asked the court to not grant further custody of Hamza to the NAB and send him on judicial remand.

However, the judge extended the physical remand of Hamza for seven days and directed the NAB to produce him again on Aug 10.

Earlier, the lawyers and court’s staff expelled a man from the courtroom for disrupting the proceedings. The man, later identified as Sheikh Iqbal, shouted slogans against Mr Hamza and his father Shahbaz Sharif.

PML-N MNA Pervez Malik and his son MNA Ali Pervez, also attended the proceedings to show solidarity with Mr Hamza.

MUST READ

Actress Lori Loughlin begins 2-month prison sentence for role in college admissions scam

Actress Lori Loughlin reported to a federal prison in Northern California on Friday to start a two-month sentence for her role in a massive...

FirstEnergy fires CEO, other executives over Ohio bribery scandal

FirstEnergy Corp. has fired its CEO amid multiple federal investigations related to an Ohio nuclear bailout law passed year. The Akron-based utility company announced in a...

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Former President of nuclear transportation company gets prison in scheme to bribe Russian official

A Maryland businessman convicted of plotting to pay a Russian official more than $1.5 million in bribes to get lucrative contracts for transporting uranium...

Macau to sign agreement with World Bank Group over money laundering risk assessment

Secretary for Security Wong Sio Chak was granted powers by the Chief executive to sign a Reimbursable Advisory Services Agreement Concerning Risk Assessment of...

Former solicitors used 60 fake identities, homeless people to defraud banks

A married couple who are former solicitors created 60 false identities, donned disguises and paid homeless people for their PPS numbers in order to...

South Korea’s former Vice Justice Minister sentenced to jail for bribery and sexual favors

Former Vice Justice Minister Kim Hak-eui, the figure at the center of one of Korea’s biggest political sex scandals, was placed under pretrial detention...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks