Bail plea of CFO Sharif group: Accountability court asks prosecutor to argue by Nov 15

LAHORE: An accountability court on Friday directed the National Accountability Bureau’s prosecutor to make arguments by November 15 on the bail plea of Muhammad Usman, chief financial officer of the Sharif group of companies.

Earlier, the counsel of Usman extended arguments on his client’s bail application. As per the NAB’s claims, the accused Muhammad Usman, CFO Sharif group of companies, aided and abetted Shehbaz Sharif, Muhammad Hamza Shehbaz, Suleman Shehbaz and other family members in money laundering by managing a network. Former chief minister Punjab Shehbaz, along with his family members, are co-accused in the case pertaining to amassing wealth disproportionate to their known sources of income.

The NAB Prosecutor stated that the accused Muhammad Usman joined the Sharif group of companies in 2005 as general manager of M/s Ramzan Sugar Mills Ltd. The accused has a charge of handling the organized system of money laundering at the behest of co-accused. Besides, he was also operating proxy bank accounts of accused persons held in the name of different employees.