Money-laundering case: LHC reserves verdict on Maryam bail plea

LAHORE: The Lahore High Court (LHC) on Thursday reserved its verdict on the bail petition, filed by Pakistan Muslim League-Nawaz (PML-N) Vice-President Maryam Nawaz in Chaudhry Sugar Mills money-laundering case after the petitioner and National Accountability Bureau (NAB) concluded their arguments.

Maryam had approached the LHC on Sept 30 seeking post-arrest bail in the case, which is being investigated by NAB. Following the sudden deterioration of her father Nawaz Sharif’s health, she filed a miscellaneous petition on Oct 24, seeking immediate bail on the basis of “fundamental rights” and “humanitarian reasons”.

A two-member LHC bench comprising Justice Ali Baqar Najafi and Justice Sardar Ahmad Naeem heard the petition. The high court would announce its verdict on Nov 4 (Monday) over the plea of Maryam Nawaz seeking bail in the case.

During the proceedings, NAB Prosecutor Jahanzaib Bharwana opposed Maryam’s request for bail on humanitarian grounds and said: “It has been established by Supreme Court’s verdicts that a suspect can only be granted bail in extraordinary circumstances,” he said, adding: “Maryam Nawaz’s case does not qualify as an extraordinary one.”

“The jail superintendent had allowed Maryam Nawaz to meet her father according to her wishes,” Bharwana argued.

He continued that various inquiries are under proceeding against the PML-N vice president including the case related to the judge’s blackmailing scandal, Flagship and Al-Azizia references.

The NAB chairman issued arrest warrants against Maryam Nawaz over her role in running fake accounts of Chaudhry Sugar Mills.”

Bharwana said that Maryam had played an “important role in money laundering” and added that a hefty amount of money was transferred from accounts opened by Chaudhry Sugar Mills to the petitioner. Justice Najafi questioned for Maryam’s conviction in a corruption reference. To

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this, the prosecutor responded that she is convicted in Avenfield reference and sentenced to seven-year imprisonment. The sentence was suspended by the Islamabad High Court (IHC), he added.

NAB suspects Maryam of involvement in money laundering through investments of variable heavy amounts being the main shareholder of the sugar mills. It has alleged that she was involved in money laundering with the help of some foreigners during the period of 1992-93 when her father Nawaz Sharif was the prime minister.

The court was informed that Maryam had not been able to give satisfactory answers to NAB inquiries regarding her shares in the Chaudhry Sugar Mills. She was also unable to explain how she attained the funds to establish Shamim Sugar Mills, Bharwana said.

The lawyer said the PML-N vice president had not filed her tax returns for many years and was suspected of owning assets beyond known means.

The prosecutor pleaded with the LHC to reject the petition and declare it non-maintainable.

After the conclusion of arguments, the high court’s bench reserved its verdict which would be announced on Nov 4.

Maryam and her cousin Yousaf Abbas were arrested by NAB on Aug 8 in the case. Later, on Sept 26, they were sent to jail on judicial remand by an accountability court in Lahore.

PML-N President Shahbaz Sharif, Maryam Nawaz, Hamza Shahbaz and Yousaf Abbas are being investigated in the reference filed by the accountability bureau over alleged money laundering through Chaudhry Sugar Mills investigation in the month of August.

During the probe, it was revealed that a $15 million loan was taken on the pretext to set up the Chaudhry Sugar Mills despite the fact that it had already been established before the loan was acquired, the special assistant claimed. He had added that the loan was never transferred to Pakistan as shown by the record of the State Bank of Pakistan.

The probe stated that more than Rs7 million worth of shares were transferred to PML-N Vice President Maryam Nawaz in 2008 through mill’s shares, which were later transferred to Yousaf Abbas Sharif, son of the late Abbas Sharif, in 2010.