The Federal Investigation Agency (FIA) booked Shehbaz and his sons Hamza and Suleman in November 2021 under sections 419, 420, 468, 471, 34 and 109 of the Prevention of Corruption Act and r/w 3/4 of the Anti Money Laundering Act. Suleman Shehbaz is absconding in the UK.
During the hearing today, property details of Suleman, who was declared a proclaimed offender in the multi-billion-rupee money laundering case, were submitted in the court.
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 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 three other co-accused of the Sharif group also actively facilitated the money laundering,” the agency had said.