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NAB launches money laundering probe against Maryam Nawaz

byCT Report
20/07/2019
in Lahore, Latest News
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LAHORE: As the Islamabad accountability court on Friday rejected a National Accountability Bureau (NAB) application seeking legal proceedings against PML-N Vice-President Maryam Nawaz for using a bogus trust deed in the Avenfield properties case, the anti-graft body initiated another probe against her in money laundering and income beyond means investigation.

The NAB launched another investigation against Maryam Nawaz, her father Nawaz Sharif, Shahbaz Sharif, her cousins Hamza Shahbaz and Yousuf Abbas, and others for owning the M/s Chaudhry Sugar Mills Ltd.

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The bureau for the first time summoned Yousuf Abbas for July 23 directing him to appear before a combined investigation team of the NAB at Thokar Niaz Baig and record his statement.

The NAB has reportedly traced numerous telegraphic transfers (TTs) worth millions of rupees by the Sharif family and the end beneficiaries included Maryam Nawaz and other owners of the Chaudhry Sugar Mills.

“The bureau may send a questionnaire to Ms Nawaz instead of summoning her,” a source told Dawn. He said the money laundering evidence against the owners of the Chaudhry Sugar Mills surfaced during the probe against Shahbaz Sharif and his sons Hamza and Salman in income beyond means and money laundering case.

In the call-up notice to Yousuf Abbas, son of the late Abbas Sharif, the NAB said: “The competent authority has taken the cognizance of offences committed by the owners of the Chaudhry Sugar Mills under the provisions of the NAB Ordinance 1999 and Anti-Money Laundering Act 2010.”

The NAB asked him to “specify the channel through which payment was received for exports, including banking accounts where payment was received, country of export, quality of sugar exported.”

Yousuf Abbas was also asked to provide details of investment/loans given to M/s Shamim Sugar Mills Ltd, all TTs sent and received by him and loan of Rs800 million given to him by various entities as reported in his wealth statement.

Mr Abbas was warned that failing to comply with this notice may entail penal consequences as provided in Section 2 of the NAO 1999.

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