LAHORE: An accountability court on Friday granted 12-day physical remand of Maryam Nawaz to the National Accountability Bureau, an accused in an ongoing investigation related to alleged money laundering for purchasing shares in the Chaudhry Sugar Mills.
NAB officials produced Maryam Nawaz and her cousin Yousaf Abbas before the Accountability Court Judge Naeem Arshad amid tight security as contingents of law-enforcement agencies were deployed on the court premises. Even roads were blocked near the Secretariat and MAO College. There was also a scuffle between police and PML-N supporters trying to reach their leaders.
The NAB prosecution team including prosecutor Hafiz Asadullah and Haris Qureshi implored the court for 15 days physical remand of the duo to carry out investigations in the already ongoing investigation of Chaudhry Sugar Mills (CSM) money laundering.
The judge asked the NAB prosecutor why the bureau had arrested Maryam. The prosecutor informed the court that call up notices were issued twice to Maryam after suspicious transactions were found in her bank accounts, but she didn’t turn up before the Combined Investigation Team (CIT) of the NAB. The prosecutor said the CIT had handed over a questioner to Maryam, but she didn’t answer the questions. The prosecutor claimed that Maryam was director of CSM from March 1, 1992 to 1997 having shares of Rs. 84 million but in no time she was owner of shares worth Rs. 410 million. Maryam was asked to provide transaction details for buying shares from UAE national Saeed, but she failed to provide details. The prosecutor said the shares purchased by Maryam in 2008 worth Rs 400 million were later transferred to her father Nawaz Sharif in 2015 despite the fact that she was having no independent source of income.
The prosecutor while presenting a list of questions asked from Maryam informed the court that she was asked about the foreign investors, but she refused to answer.
On the other end, Advocate Amjad Parvez, counsel of Maryam Nawaz, argued before the court that there was a strong nexus and relevance of this case with the judgment of the Supreme Court, constitution of Joint Investigation Team and thereafter a verdict of competent court at Islamabad, especially in Panama case against Nawaz Sharif. He said this fact had already been deliberated upon thoroughly along with his foreign assets. The counsel said that now the arrest of Maryam in the said inquiry was amounting to double jeopardy and malicious prosecution. He said his client is entitled for the benefit postulated under 167 of the Criminal Procedure Code. The judge, after hearing arguments of both parties, reserved the judgment for a while and later granted physical remand of Maryam and her cousin to the NAB by August 21, directing the NAB to complete inquiry as it has already been under way for many months.
Maryam Nawaz, while talking to media, said she was aware that she was facing a tough situation but she would not retreat. The NAB wanted to take her signatures on her arrest warrants but she refused. “I will never sign any such warrant which is not based on reality,” she said and added that she received shares from her grandfather.
Meanwhile, Hamza Shahbaz arrived in the court to attend his hearing in the Ramzan Sugar Mills case and met his cousin Maryam Nawaz. Hamza while having a smile on his face showed his affection for his cousin by tapping her shoulder.
In the Ramzan Sugar Mills case, the counsel of Shahbaz Sharif sought one-day exemption for his client. The counsel argued that his client was in Islamabad to attend the parliament session on Kashmir issue.
The NAB prosecutor informed the court that the bureau would submit a supplementary Challan in this case. The court accepted Shahbaz’s plea for exemption and extended the judicial remand of Hamza by August 21 and adjourned the hearing.
Maryam Nawaz’s son Junaid Safdar and her husband Captain (retd) Safdar were present in the courtroom. A considerable number of PML-N workers were present outside the Judicial Complex during the hearing. They burnt tyres while chanting slogans against the PTI government.
As per details of Chaudhry Sugar Mills money laundering investigation, the NAB in January 2018 received a Financial Monitoring Unit (FMU) report describing huge suspicious transactions in billions of rupees in the Chaudhry Sugar Mills under Anti Money Laundering Act. It is pertinent to mention here that in January 2018, the PML-N was ruling the country.
After receiving FMU report, the NAB started its inquiry in October 2018 and found that Nawaz Sharif, Maryam Nawaz, Shahbaz Sharif and family and Abbas Sharif and family are shareholders in the company along with some foreigners from the UAE and the UK. During probe, it revealed that huge investments were made in the Chaudhry Sugar Mills from 2001 to 2017 in billions of rupees in the name of issuing shares in the name of foreigners. Interestingly, later on, same shares of the company were transferred back to Maryam, Hussain and Nawaz Sharif on various occasions without paying any money to the foreign business partners.
Maryam Nawaz in her previous hearing before the NAB CIT failed to establish her business links with foreign nationals including Saeed Saif Bin Jabar Al-Suweidi (UAE national), Sheikh Zakauddin (UK national), Hani Ahmad Jamjoom (Saudi national) and Naseer Abdullah Lootah (UAE national) after which she was summoned for August 8 and arrested.
NAB sources claim that investigators have come to a conclusion that the names of foreigners were used as proxies to make huge investments in the company for the reason that the Sharif family did not have white money for investment. They allege that the Chaudhry Sugar Mills investigation is a classic case of money laundering.
Moreover, the NAB is investigating all members of the Shahbaz family for alleged money laundering and having assets beyond means. The NAB had summoned Hassan and Hussain but both didn’t appear as they are absconders in the Avenfield case and are living in London. Salman Shahbaz is also an absconder in the Ramzan Sugar Mills and money laundering investigation case and is living with his cousins in London.
