Court acquits PM Shehbaz, Hamza

16BLN MONEY LAUNDERING CASE NO MONEY DIRECTLY DEPOSITED IN FATHER-SON DUO ACCOUNTS

Latest Oct, 13 2022
Court acquits PM Shehbaz, Hamza
  • 212
  • 0

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

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

National Courier
National Courier https://www.dailynationalcourier.com/author/national-courier
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

NC Big Stories

FBR increases property valuations in 56 cities

The Federal Board of Revenue (FBR) has raised property valuation rates for immovable properties in 56 cities. According to details, the FBR jacked up the property valuation rates by 75% of the actual market rates starting November 1, 2024. This decis...

PIA privatization bid scheduled for tomorrow in Islamabad

The final bidding process for the privatization of Pakistan International Airlines (PIA) is scheduled to take place tomorrow (Thursday) in Islamabad. Preparations for the bidding process have been finalized at a private hotel in the capital. Of the s...

Ziauddin University, IQVIA RDS Pakistan host workshop on clinical trials

Karachi: Ziauddin University in collaboration with IQVIA RDS Pakistan organised workshop focused on ‘Understanding Clinical Trials and Key Stakeholders.’ Workshop, part of Corporate Social Responsibility academic session, aimed to provi...

SA passes resolution urging Dr. Aafia’s repatriation

KARACHI: Sindh Assembly unanimously passed resolution urging federal government to secure release of Dr. Aafia Siddiqui from US detention. Presented by Jamaat-e-Islami member Muhammad Farooq, resolution called upon federal authorities to press for re...

More like this
Related

ECC bans export of sugar

Islamabad: Economic Coordination Committee (ECC) of Cabinet has imposed ban on export of sugar. According to Ministry of Finance officials, this decision aims to curb escalating sugar prices domestically. Chaired by caretaker Finance Minister Dr. Sha...

PPP CEC decides to advocate general elections in 90 days

KARACHI: Pakistan Peoples’ Party Central Executive Committee decided to advocate organisation of general elections in 90 days.Bilawal Bhutto Zardari chaired session of PPP CEC to make key decisions including general elections and consultations...

PTI reiterates call for election within 90 days

ISLAMABAD: Pakistan Tehreek-e-Insaf has urged electoral watchdog to drop process and conduct polls with 90 days. Both parties made their position clear when ECP officials met them as part of its consultations with major political parties on election...

Bilawal, UN Secy Gen discuss revival of Black Sea Grain Initiative

ISLAMABAD: Foreign Minister Bilawal Bhutto Zardari held telephone conversation with United Nations Secretary General Antonio Guterres and shared Pakistan’s perspective on stalling of Black Sea Grain Initiative (BSGI) and its implications for fo...
Need Help? Chat with us