LAHORE: Special Court Central acquitted Prime Minister Shehbaz Sharif and his son Hamza Shahbaz in Rs 16 billion money laundering case lodged against them by Federal Investigation Agency.

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

Father-son duo who were summoned did not appear before court as their counsel filed a request for exemption as PM Shehbaz had official engagements and Hamza was not well. In December 2021, FIA had submitted challan against Shehbaz and Hamza before special court for their alleged involvement in laundering an amount of Rs 16 billion in sugar scam case. According to FIA report submitted to court, investigation team has “detected 28 benami accounts of Shehbaz family through which money laundering of Rs 16.3bn was committed during 2008-18. FIA examined the money trail of 17,000 credit transactions.” Report added that amount was kept in “hidden accounts” and given to Shehbaz in a personal capacity. This amount (Rs16 billion) has nothing to do with sugar business (of Shehbaz family), it claimed.

Money received from accounts of low-wage employees by Shehbaz was transferred outside Pakistan via hundi/hawala networks, ultimately destined for beneficial use of his family members, FIA had alleged. “Eleven low-paid employees of Sharif group who ‘held and possessed’ laundered proceeds on behalf of principal accused are found guilty of facilitating money laundering,” agency had said. “Three other co-accused of Sharif group also actively facilitated money laundering,” it had added. After the verdict's announcement, the prime minister thanked God for his acquittal and termed the case against him "fake, baseless, and based on political vengeance".

"No matter how much I thank God enough for this, it won't be enough," he said in a tweet. PM Shehbaz said that "despite the worst practices, use of state force, and holding institutions hostage," he still triumphed. In a statement, the former chief minister said the verdict marks the victory of "truth, righteousness, and honesty".

"In this politically motivated case, I was kept behind bars for almost 22 months, but despite that, we fought the case vigorously," Hamza said.

Published in The Daily National Courier, October, 13 2022

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