Rs 25b money laundering probe: FIA issues call-up notice to Shehbaz for 22nd

LAHORE: The Federal Investigation Agency (FIA) has issued a call-up notice to PMLN President Shehbaz Sharif, directing him to appear before the agency in person in a Rs 25 billion alleged money laundering investigation against him and his family members. The FIA has directed Shehbaz to join investigations on June 22. The agency has also warned that in case of non-appearance, Shehbaz can face arrest. The call-up notice dated June 15, a copy of which is available with the News, stated that an FIA team visited Shehbaz twice to complete the alleged money laundering investigation and a questionnaire was handed over to him. However, Shehbaz didn’t submit answer to FIA questions.

The FIA further stated that "during the course of enquiry No.T34/2020 of FIA ACC Lahore, it was revealed that total deposits amounting to over Rs 25 billion (2008-2018), identified so far were received in bank accounts (hereinafter A/C) of various low-wage employees of the Ramzan Sugar Mills Ltd, AI-Arabia Sugar Mills Ltd and accounts of fake companies set up and controlled by the Sharif Group.

Rs 3.7 billion in 2016/l7 in the accounts of a peon namely Malik Maqsood working at the office of MD Suleman Shehbaz at the Sharif Group's Corporate Office, Model Town Lahore, revealed the FIA findings.

The findings revealed that the low-wage employees of RSML/ASML have admitted during inquiry that these accounts were opened and operated for the personal/secret transactions of Suleman Shehbaz on the instructions of Muhammad Usman, CFO of Sharif Group. Mushtaq Cheeniwala has provided ‘secret-ledgers’ as a proof to show that the money from undisclosed safe of sugar deposited into these accounts is only Rs 3.95 billion, implying therein that the source of remaining funds is ‘extraneous’ to sugar business and can best be explained by Shehbaz Sharif and his sons and RSML/ASML officers who managed these accounts. Vouchers, cheques and money trail of deposits in these accounts have revealed that money was being deposited by various people including politicians at various political affiliations, contractors, petroleum dealers, pharmaceutical vendors, flour and rice mills owners not related to sugar business.

The FIA claims it has credible information that the money received through such accounts and persons was received by Shehbaz or on his behalf. The FIA has asked Shehbaz to give his response on the said money laundering activities.

The FIA has asked Shehbaz to share details of his international assets excluding 4 apartments already declared to the FBR.