Lahore (LTN NEWS): The deadline for filing responses in the case of alleged money laundering brought against Shahbaz Sharif and Hamza Shahbaz Sharif has been extended to September 7. The judgment was handed down by the Lahore High Court.
Case of money laundering
The FIA had brought a challan against Shehbaz and Hamza in front of the special court in December 2021, alleging that the two men were involved in the sugar scam and had laundered a total of Rs16 billion.
The investigative team has gathered, as stated in the report that the FIA has presented to the court: “found 28 Benami accounts belonging to the Shehbaz family, through which a total of Rs16.3 billion was laundered between the years of 2008 and 2018. The FIA investigated the origin of the funds for 17,000 different credit transactions.”
According to the investigation, the sum in question was maintained in “secret accounts” and was presented to Shehbaz in his capacity as a private individual.
It was stated that this sum of money, Rs. 16 billion, had nothing to do with the sugar industry owned by the Shehbaz family. According to the allegations made by the FIA, the money that Shehbaz obtained from the bank accounts of low-wage employees was sent outside of Pakistan through hundi and hawala networks, and it was ultimately intended for the members of his family to spend for their own benefit.
“The jury decided that eleven low-paid employees of the Sharif group were responsible for assisting money laundering since they were the ones who “held and possessed” the laundered funds on behalf of the chief accused. The three further co-accused members of the Sharif gang each played an active role in aiding in the laundering of funds, “the organization had stated.
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