Confessional statement: Cheeni says he helped Suleman whiten Rs600m through fake loan pact

LAHORE: Muhammad Mushtaq alias Cheeni and his son Yasir Mushtaq, alleged front men for the Shahbaz family, on Monday made startling revelations before the court while recording their statements.

They confessed that they facilitated Suleman Shahbaz, son of Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif, in whitening his Rs600 million black money through fake loan agreements and engineered telegraphic transfers (TTs).

Both father and the son recorded their statement under 164 CrPC before the court of Judicial Magistrate Amir Raza Baitu. Mushtaq Cheeni stated that he had been in sugar business under the name of Mushtaq and Company, and working as a wholesale dealer for Ramzan Sugar Mills since 1998. In 2005, Hamza Shahbaz and Suleman Shahbaz started looking after the sugar mills affairs.

He said he had accounts in Bank Alflah branches at Circular Road and Badami Bagh for business purposes. One Abdul Qayyum was manager operations of these branches and, due to business visits, he had developed a good relationship with him, Cheeni said. Later, Qayyum introduced him to his son, Qasim Qayyum, who was a money-changer by profession.

Qasim and his son made a transaction of Rs60 million in his bank Alflah account through a fake telegraphic transfer, Cheeni added. Explaining the modus operandi, the alleged front man said he handed over Rs60 million to Qasim Qayyum and he made fake TT in his account, which showed that the amount was transferred in his account from abroad and through this Rs60 million black money was whitened.

Cheeni said that in 2014, one Muhammad Usman, chief financial officer (CFO) of different companies of Hamza Shahbaz, Suleman Shahbaz and Nusrat Shahbaz asked him to help whiten Rs600 million of Suleman Shahbaz. “I replied him that that was not possible for him,” Cheeni added. On this, Usman said they would only use his accounts and use the accounts for TTs from abroad. Mushtaq said that due to old business relationship and influenced by greed, he agreed on Usman’s proposal and allowed them to use his company accounts in the branches of Bank Alflah. Moreover, it was not possible for him to refuse Suleman Shahbaz as he was son of the sitting chief minister of Punjab, Shahbaz Sharif, and was a nephew of the then prime minister of Pakistan, Nawaz Sharif, Cheeni added.

He revealed that in early 2014, fake TTs worth Rs214 million were made through the accounts of his company. “I don’t know the names of people and companies used for said fake telegraphic transfers,” Cheeni added.

As the money transferred into his accounts, he handed over cheques of the same amount to the CFO Usman, Cheeni said. Usman deposited those cheques in the account number 0037-1003371199 of Suleman Shahbaz, located in Circular Road branch of Bank Alflah. Later, Usman asked him to open another account in the same branch, saying that Suleman had account in the said branch, so it would be easy to make transactions.

“I opened an account in the said branch as per directions of Usman and they made a fake TT of Rs293 million in my account,” Cheeni further revealed. “After that TT, I again handed over cheques of same amount to Usman, who deposited them in the account of Suleman Shahbaz,” Cheeni said.

Mushtaq Cheeni said he stated under oath that the TTs documents bore his signatures and approximately Rs500 million were brought in his accounts through TTs, which he handed over to CFO Usman in the form of cheques who submitted those in the accounts of Suleman Shahbaz.

Cheeni revealed that another company, Waqar Trading Company, was established in the name of one Syed Tahir Naqvi, who was an employee of Suleman Shahbaz. An amount of Rs100 million was transferred from Waqar Trading Company to his company and he handed over cheques of the same amount to Usman as well, and he deposited them in the account of Suleman Shahbaz as per previous practice, Cheeni added.

Suleman Shahbaz, in a bid to make the whole process legal, prepared two loan agreements. The first agreement was signed between him and Suleman Shahbaz, while the other agreement was signed between his son and Suleman Shahbaz.

“According to the two agreements, my son and I gave a loan of Rs600 million to Suleman Shahbaz,” Cheeni added. Not only this, another agreement of loan return was also prepared by Suleman Shahbaz in which it was stated that Suleman had returned that loan to them. Cheeni said that he and his son signed that agreement, but copies of that agreement were not provided to him.

Moreover, to give an impression of legality to the said loan agreements, Suleman Shahbaz deposited Rs100 million in his account as loan return, Cheeni stated. After that CFO Usman took a cheque of same amount from him and deposited that in the account of Waqar Trading Company.

“I did all this under the influence of greed, Cheeni concluded. The same confessional statement was also recorded by Yasir Mushtaq, son of Mushtaq Cheeni. Earlier, NAB chairman had approved an application, moved by Mushtaq Cheeni and his son for becoming approvers in the money-laundering cases against the Shahbaz family.