Money laundering case: Investigation report from Sharif family CFO submitted
Money laundering case: Investigation report from Sharif family CFO submitted
LAHORE (Dunya News) - Details of NAB investigation report on Chief Financial Officer Sharif family Muhammad Usman have come to light. According to the NAB report, Muhammad Usman laundered money for the Shehbaz Sharif family.
Dunya News has received a copy of the NAB investigation report, according to which, Muhammad Usman started working for the Sharif family in 2005 at Ramzan Sugar Mills for Rs 90,000 per month. In 2006, the Nawaz family acquired Hudaibiya Engineering from the Shehbaz family and in 2007, the Shehbaz family made more companies, including the Sharif Feed Mill, to expand their business.
During the investigation, CFO Muhammad Usman was asked about funding to form new companies to which he said foreign remittances and loans were the sources of funding.
The bank accounts of Shehbaz Sharif’s wife Nusrat Shehbaz and his sons were used for foreign remittances and loans. The NAB report further says that Muhammad Usman was also questioned about money laundering for Shehbaz Sharif.
He stated that he used to do everything at the behest of Salman Shehbaz. On the direction of Salman, Waqar Trading Company made fake foreign remittances of Rs 600 million.
The entire amount was transferred to Salman Shehbaz’s personal account via cheque but it is not known where Salman receives his money from. Investigations into the baynami accounts from the accused are ongoing.
