Rs16bn money laundering case: Shahbaz, Hamza’s bail extended till June 11

LAHORE: A special court in Lahore extended on Saturday the interim bail of Prime Minister Shahbaz Sharif and his son Punjab Chief Minister Hamza Shahbaz in the Rs16b money laundering case till June 11.

The special court (Central-I) resumed hearing of the multi-billion rupee money laundering case against PM Shehbaz Sharif, his son Punjab CM Hamza Shahbaz and others today.

At the outset of today’s hearing, the father and son duo appeared before the court amid strict security measures.

During the course of the proceedings, Amjad Perviz, the counsel of Shahbaz Sharif and Hamza Shehbaz, apprised the court that the FIA had failed to produce any evidence against his clients despite a probe that lasted for one-and-a-half years.

The lawyer said that the FIA had investigated the duo when they were in jail during the tenure of the past government. He said the PTI-led government had used the government’s machinery to suppress the father-son duo.

FIA seeks court’s permission to arrest PM Shahbaz, CM Hamza

When Judge Ijaz Hassan Awan asked if the FIA wanted the custody of the duo, the FIA’s lawyer said “yes”. The lawyer said that they were never been part of the probe in the case, hence, the agency wanted to arrest them so that they could be interrogated.

However, Hamza’s counsel rejected the FIA claims, accusing the agency of misleading the court as the "two had been a part of the investigations".

Meanwhile, the judge gave Shehbaz and Hamza permission to leave, saying the hearing could proceed without their presence.

Later, the court issued non-bailable arrest warrants for Suleman Shahbaz and two other co-accused in the case. The judge directed the FIA to implement the arrest warrants of the suspects and present a report in this regard before the court on the next hearing.

Money laundering case

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 the 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.