close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Pakistan

Web Desk
October 11, 2019

Nawaz Sharif arrested in Chaudhry Sugar Mills case

Pakistan

Web Desk
Fri, Oct 11, 2019
 

LAHORE: Former prime minister Nawaz Sharif was arrested in the Chaudhry Sugar Mills case by the National Accountability Bureau (NAB) on Friday.

More: New case ready for Nawaz

A NAB team brought the former PM to the accountability court from the Kot Lakhpat Jail where he is serving a prison term in the Al-Aziza Steel Mills reference.

During the proceedings, NAB requested the court for Nawaz's physical remand for further interrogation in the case. The court granted 14-day physical to the anti-graft watchdog. 

Strict security measures were put in place, with routes leading to the court being closed ahead of the PML-N leader’s appearance. The former premier will next be presented in court on October 25. 

According to NAB, the accused is involved in money-laundering for purchasing shares of Chaudhry Sugar Mills. Earlier, on August 8, NAB had arrested PML-N Vice President Maryam Nawaz in the same case.

As per details of Chaudhry Sugar Mills money-laundering investigation, NAB, in January 2018, received a Financial Monitoring Unit (FMU) report showing huge suspicious transactions worth billions of rupees under the Anti-Money Laundering Act. 

In January 2018, the PML-N was ruling the country. After receiving the FMU report, NAB started an inquiry in Oct 2018, and found that Nawaz Sharif, Maryam Nawaz, Shahbaz Sharif and family, Abbas Sharif and family were shareholders in the company, along with some foreigners from the United Arab Emirate (UAE) and the United Kingdom (UK).

During the probe, it was revealed that huge investments were made in the mills from 2001 to 2017 in the name of issuing shares for foreigners. 

Interestingly, later on, same shares of the company were transferred back to Maryam, Hussain and Nawaz Sharif at different occasions without paying any money to the said foreign business partners. 

Nawaz Sharif fully supports JUI-F's Azadi March

Azadi March

While talking to newsmen at the court, Nawaz said he fully supported the Azadi March of Maulna Fazlur Rehman.

"The JUI-F chief is doing the right thing by launching protest aganst the ncumbent government and we completely support him," said the PML-N supremo.

With reports of differences among the senior party leaders over the JUI-F move, Nawaz’s statement has cleared the air that the party is in complete agreement over the anti-PTI rally.