Stunning revelations surface in mega money laundering by Shahbaz Sharif family

Stunning revelations surface in mega money laundering by Shahbaz Sharif family
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*LAHORE: **Stunning revelations surface in mega money laundering by Shahbaz Sharif family.*

The National Accountability Bureau (NAB) has obtained records of money exchange companies that were allegedly involved in making fictitious foreign remittances to the bank accounts of former Punjab chief minister Shehbaz Sharif and his family.

The investigation report submitted by NAB in an accountability court revealed that 10 international money exchange companies – six from Dubai and four based in the UK – were used to carry out huge monetary transactions to the bank accounts of Shehbaz Sharif, his sons Hamza Shehbaz and Suleman Shehbaz, as well as other party members.

The six Dubai-based companies were identified as Al-Hussain Exchange, Al-Zaruni Exchange, Multi-net Trust Exchange, RMU Global Exchange, Reems Exchange and Karim Money Exchange.

The four UK-based companies included Main International, Usman International, FX Currency and Crossbar FX.

According to the report, Rs370 million were transferred to Suleman Shehbaz and others’ accounts.

The report further said the Sharif family also created various companies in the name of unknown servants.

Following NAB’s probe, Qasim Qayyum and Fazal Dad Abbasi – the two individuals allegedly involved in money laundering on behalf of Shehbaz’s family – failed to recognise the exchange companies.

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