Rs25 bn money laundering probe: FIA seeks money trail from Hamza

LAHORE: The Federal Investigation Agency (FIA) has issued a show cause notice to the Opposition Leader in the Punjab Assembly Hamza Shehbaz, directing him to provide money trail in a Rs25 billion alleged money laundering investigation against him and the family.

The investigating agency has warned that in case of non-compliance within 30 days of issuing the notice, Hamza’s assets could be seized.

It has been learnt that Hamza has been directed to appear before the agency at the end of the month and bring complete record pertaining to his vehicles, bank account details, shares, jewellery, cash and prize bonds.

“You are directed to appear before the agency at the end of the month and provide money trail of assets owned by you,” the notice read.

Talking to The News, FIA sources said the notice had been served on Hamza under Section 9 of Anti-Money Laundering Act 2010.

Section 9 states, “The investigating officer shall not later than seven days from the date of order of attachment made under Sub-section (1) of Section 8 or, seizure of property under Section 14 or Section 15, serve a notice of not less than thirty days on the person concerned. The notice shall call upon such person to indicate the sources of his income, earning or assets, out of which or by means of which he has acquired the property attached under Sub-section (1) of Section 8, or, seized under Section 14 or Section 15, the evidence on which he relies and other relevant information and particulars, and to show cause why all or any of such properties should not be declared to be the properties involved in money laundering and forfeited to the federal government”.

Previously, Hamza had submitted his written reply to the FIA, alleging that the FIA was handling a political case.

It is pertinent to mention that Shehbaz Sharif and Hamza Shehbaz both had secured interim bails in this investigation till July 20.

In the investigation, the FIA claimed that total deposits amounting to over Rs25 billion (duration 2008-2018), identified so far, were received in the bank accounts (hereinafter A/C) of various low-wage employees of Ramzan Sugar Mills Ltd (RSML), AI-Arabia Sugar Mills Ltd (ASML) and accounts of fake companies set up and controlled by the Sharif Group.

An amount of Rs3.7 billion was received 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.

The FIA claims that the low-wage employees of RSML/ASML had 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 proof to show that the money from the undisclosed safe of sugar deposited into these accounts was only Rs3.95 billion, implying that the source of remaining funds was ‘extraneous’ to sugar business and could best be explained by Shehbaz Sharif and his sons and RSML/ASML officers who managed these accounts.

Vouchers, cheques and money trail of deposits into these accounts revealed that money was being deposited by various people including politicians, contractors, petroleum dealers, pharmaceutical vendors, flour and rice mills owners not related to sugar business.

According to a media report, reacting to the FIA notice, Pakistan Muslim League-Nawaz (PML-N) spokesperson Marriyum Aurangzeb Saturday asked how many times they will harass us for the same charge.

She said, “Every asset is shown in the document, which has not been objected to date. After NAB, political revenge and media trial is being conducted through FIA while Hamza Shahbaz has answered all these questions in 58 volumes.”

She said the properties which were being confiscated were already part of the legal process. The FIA should not become a private employee but should work as a state agency, she said and asked were the FIA, NAB and Imran Khan unaware of the double punishment law.

Meanwhile, Ali Tareen and others have also been issued notices in connection with an investigation into the sugar scandal.

The FIA has sought details of his bank accounts, investment records and details of the money taken from banks or family members for business. Last month, the Lahore High Court had rejected a petition filed by Jahangir Tareen to stop the audit of his sugar mills.

Separately, Tareen, his son and other co-accused in the money laundering case withdrew their interim plea for pre-arrest bails after the FIA deputy director told the LHC that there was no need to arrest the former PTI general secretary at the moment.