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Sunday, April 29, 2012
Nawaz involved in $32m money laundering scandal: Malik* Interior minister says he will send reference against Sharifs to NAB, will present all documents in court if required
ISLAMABAD: Interior Minister Rehman Malik on Saturday uncovered involvement of Nawaz Sharif and his family in a $32 million money laundering scandal, saying he would expose their further corruption acts.
Addressing a crowded press conference, the minister said he would send a reference of the scam to the National Accountability Bureau (NAB) next week and would present all documents in the court if summoned.
Rehman Malik asked the Supreme Court to take a suo motu notice of the scandal in which the precious money of the national exchequer was sent abroad.
He said being an interior minister, he could have directed the Federal Investigation Agency (FIA) to register a case against those involved in the money laundering scandal and got them arrested, but he decided to refer the case to NAB for an independent inquiry.
The minister said collecting proofs against the Sharif family’s corruption was his personal endeavour. This was the beginning and he would expose their further corruption acts with documents in the days to come, he added.
Giving details about the scandal, he said the Hudabiya Paper Mills Limited, owned by the Sharif family, entered into a leasing contract with M/s Altowfeek Company for investment funds under the laws of the Cayman Islands on February 15, 1995 for lease of paper manufacturing machinery. The leasing price was $12.046 million, he added.
He said Shahbaz Sharif and Abbas Sharif and another, provided guarantee in writing to pay jointly and severally to the leasing company, all sums due against the Hudabiya Paper Mills under any agreement up to a maximum of US$10 million with all profits and charges.
On February 15, 1995, Shahbaz Sharif provided a further guarantee to pay on demand to the leasing company any such due against the Hudabiya Paper Mills up to a maximum of
$12.046 million together with all profits and charges.
The Hudabiya Paper Mills Limited failed to make payment on the first due date or any date thereafter, he said and added on July 31, 1998, M/s Al Towfeek Company served a demand to pay the sum.
However, all the three guarantors failed to honour their guarantees and to make payment on behalf of their company, he said.
On March 18, 1999, the High Court of Justice Queens Bench Division, delivered a judgement, declared them defaulters and ordered Shahbaz Sharif to pay the amount to the company.
He also mentioned their involvement in some other scandals such as Mehran Bank, and said he would soon reveal some solid documents to prove their corruption.
He said the first NRO was introduced between Nawaz Sharif and former president late Farooq Ahmad Khan Leghari and added both the personalities benefited from that deal due to which the government of Benazir Bhutto faced dismissal.
He also mentioned the second NRO of Nawaz Sharif under which he and his family were sent to a friendly country by former president General (r) Pervez Musharraf. When he disclosed their agreement a few months back, no one challenged and contacted him, he added.
The interior minister further maintained that the Sharifs also made a deal that Musharraf would be spared.
Criticising the attitude of the leadership of Pakistan Muslim League-Nawaz, Rehman Malik said its leaders vowed that they would not allow the prime minister to enter parliament. app
Courtesy www.dailytimes.com.pk