ISLAMABAD – Accountability court acquitted the supreme leader of thePakistan Muslim League-Nawaz (PML-N) in another reference pertaining to theFlagship investment and other offshore companies.
All the properties acquired or held under the Flagship reference were inname of Nawaz Sharif son Hussain Nawaz, so Nawaz Sharif escaped thepunishment in the case.
In the Flagship reference, NAB had claimed that Sharif and his sons set upFlagship Investment Limited and 15 other companies and used these companies“to manage/acquire expensive properties/any movement of funds to hide thereal sources of funds.”
The other 15 companies include Flagship Investments Limited, HartstoneProperties Limited, Que Holdings Limited, Quint Eaton Place 2 Limited,Quint Saloane Limited [formerly Quint Eaton Place Limited], Quaint Limited,Flagship Securities Limited, Quint Gloucester Place Limited, QuintPaddington Limited [formerly Rivates Estates Limited], FlagshipDevelopments Limited, Alanna Services Limited (BVI), Lankin SA (BVI),Chadron Inc, Ansbacher Inc, Coomber Inc, and Capital FZE (Dubai).
The Sixteen companies, according to the NAB, were established in Britain(British Virgin Island) and Dubai in 2001. Nawaz Sharif was named as thecentral suspect for the off-shore company in Dubai, known as Capital FZE.
According to the documents presented before the court, Flat “12-A” inMayfair Apartments is also part of the Flagship Investment Limited’sproperty.
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According to the documents attested by United Kingdom’s Land RegistryDepartment, Hasan Nawaz established Flagship Investment Limited Company in2001 and the address mentioned in those documents is of Park Lane Field.
Accountability Judge Arshad Malik while reading out the short order earliertoday said there was no case against Nawaz in the Flagship reference.
The detailed verdict will be issued later by the accountability court.
