Money laundering allegations: Have nothing to do with children’s business, says Shehbaz Sharif

ISLAMABAD: PMLN President Mian Shehbaz Sharif told the FIA investigators on Friday that he had no association with business and investments by two of his family (children) sugar mills allegedly involved in money laundering and malpractices.

Sharif was responding to a questionnaire sent by a special team of the Federal Investigation Agency, which read that investigators have credible evidence that over Rs25 billion [identified so far] were deposited (including gratifications from sources extraneous to sugar business) opened and operated in the name of low-wage employees of Ramzan Sugar Mills Ltd/ Al-Arabia Sugar Mills Ltd/fake companies.

"I understand and believe that the said tax record is self-sufficient to answer all the questions. I have maintained that I am not a shareholder in RSML and Al-Arabia nor have any role in the respective businesses. All my family members are independent, they are not dependent upon me; they are taxpayers and I have nothing to do with their business concerns or other affairs," the PML-N president claimed in his written response exclusively available with this correspondent. “Have you in any way been privy to any of the transactions deposited into/received from these accounts by or on your behalf? If no, then how, for example, the cheques (worth Rs5mn) received by you from Aurangzeb Butt, ended up being deposited in the account of Guizar A Khan (deceased), a peon of the RSML,” the FIA further asked Shehbaz.

"Throughout this period, my clear stance has been that I have nothing to do with the opening and operation of the subject accounts. The allegations of gratification, kickbacks, assets beyond means or money laundering are baseless, false and frivolous. Rather, to the contrary, it is a matter of public and judicial record that my family members businesses suffered huge losses running into billions on account of my conscious decisions as chief minister of not granting subsidy on sugar and not reducing the price of sugarcane despite the same being practiced in other provinces," he responded.

Being the head of family (spouse & children), was it not your responsibility to see why your family-owned businesses/ assets were engaged in an organised spree of money-laundering and consequently your family was amassing wealth (pecuniary resources) beyond known sources of income, suppressing the due diligence mechanisms of the financial institutions, while you also held the office as chief minister Punjab (2008-2018), the FIA team further asked Shehbaz Sharif.

In his response, the PML-N president told the FIA team: "I take pride in telling this investigation team and want to make it part of record that during my service as chief servant of the people of Punjab for 10 years (2008-2018), I worked tirelessly along with my team and saved hundreds of billions of rupees in public spending beyond the call of my duty and over and above the requirement of PPRA rules or any other prevalent law."

Shehbaz Sharif further said, "May I bring it on record that throughout the proceedings, I have taken the simple plea of innocence and complete denial of the allegations leveled against me, however, it is regretted to note that investigation team has recorded my version of simple denial of any complicity in any offence in a distorted form. Moreover, the investigation team has also distorted my version of complete want of knowledge and acquaintance, rather, use of various words and sentences has been attributed to me contrary to the facts -- please note that the nature of allegations in the above said Accountability Reference and FIR are similar in pith and substance, my entire property is subject matter of the Accountability Reference --which overrides all other laws. In this view of the matter, registration of the above said FIR and investigation proceedings under its cover are illegal and without lawful authority."