Chaudhry brothers laundered money through fake accounts, claims NAB report
Chaudhry brothers laundered money through fake accounts, claims NAB report
LAHORE (Dunya News) - National Accountability Bureau (NAB) has claimed that it is investigating assets beyond means cases while fulfilling all legal requirements and that the Chaudhry brothers laundered money through five fake accounts.
According to details, NAB investigation against Chaudhry brothers in assets beyond means case is in progress with a new NAB report claiming that the Chaudhry brothers laundered money through fake accounts and brought money to Pakistan illegally.
Dunya News has obtained the NAB report submitted to the Lahore High Court which states that in 1985, Chaudhry Shujaat Hussain and his family had assets worth Rs 2.1 million which in 2019 exceeded Rs 518.4 million.
The NAB report claims that Chaudhry Shujaat built properties worth Rs 123 million and him and his sons gave loans of Rs 1.5 billion to their own companies.
The report said that the sons of Chaudhry Shujaat Hussain received huge amount of money from fake accounts and money was transferred from abroad to Chaudhry Shujaat and his sons’ accounts.
NAB has also claimed that more than Rs 581 million was transferred from abroad but there are no sources or money trail of these transactions.
In addition, the report said that the assets of Chaudhry Pervez Elahi and his family increased by 4.069 billion and he also bought property worth Rs 250 million. His family received Rs 978 million from fake accounts as well.
It claimed that the Chaudhry brothers had failed to disclose these assets which are in excess of their income. They laundered money through five fake accounts and also brought in money from abroad.
According to the NAB report, Chaudhry brothers have so far failed to disclose the source of their assets. It is important to mention that NAB has requested the Lahore High Court to dismiss the petitions by the Chaudhry brothers.
