Arrest warrant issued against former Pak PM Sharif

A team of Lahore bureau would visit Sharif in the Kot Lakhpat jail on Friday to take him to the accountability court. Sharif is already serving a seven-year imprisonment in Al-Azizia Mills corruption case.

Lahore: An arrest warrant has been issued by the National Accountability Bureau against former prime minister Nawaz Sharif regarding the Chaudhry Sugar Mills case.

A team of Lahore bureau would visit Sharif in the Kot Lakhpat jail on Friday to take him to the accountability court.

Sharif is already serving a seven-year imprisonment in Al-Azizia Mills corruption case.

National Accountability Bureau report on Maryam:

Earlier, on August 8, the accountability bureau had arrested his daughter Maryam Nawaz and nephew Yousuf Abbas in the Chaudhry Sugar Mills case. Both of them are on judicial remand till October 23.

However, NAB had mainly accused Maryam of her involvement in the money laundering under the grab of sale/purchase of the sugar mills' shares.

The accountability watchdog said that she had become the largest shareholder of the mills in 2008, having over 12 million shares and her assets had been found disproportionate to her income.

During the probe, it was revealed that huge investments were made in the mills from 2001 to 2017 in the name of issuing shares for foreigners.

Interestingly, later on, the same shares of the company were transferred back to Maryam, Hussain and Nawaz at different occasions without paying any money to the said foreign business partners.

Failure of NAB:

Maryam, in her appearance before the NAB combined investigation team, failed to establish her business links with the foreign nationals including Saeed Saif Bin Jabar Al-Suweidi, a UAE national, Sheikh Zakauddin, a UK national, Hani Ahmad Jamjoom, a Saudi national, and Naseer Abdullah Lootah, a UAE national, after which she was arrested.

NAB sources said investigators had concluded that names of the foreigners were used as proxies to make huge investments in the company as the Sharif family did not have white money for investment.

Moreover, the bureau has also been investigating all members of the Shahbaz family for alleged money-laundering and owning assets beyond known sources of means.