How Nawaz Sharif managed to escape punishment in Flagship reference?

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How Nawaz Sharif managed to escape punishment in Flagship reference?

ISLAMABAD - Accountability court acquitted the supreme leader of the Pakistan Muslim League-Nawaz (PML-N) in another reference pertaining to the Flagship investment and other offshore companies.

All the properties acquired or held under the Flagship reference were in name of Nawaz Sharif son Hussain Nawaz, so Nawaz Sharif escaped the punishment in the case.

In the Flagship reference, NAB had claimed that Sharif and his sons set up Flagship Investment Limited and 15 other companies and used these companies “to manage/acquire expensive properties/any movement of funds to hide the real sources of funds.”

The other 15 companies include Flagship Investments Limited, Hartstone Properties 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, Quint Paddington Limited [formerly Rivates Estates Limited], Flagship Developments 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 the central suspect for the off-shore company in Dubai, known as Capital FZE.

According to the documents presented before the court, Flat “12-A” in Mayfair Apartments is also part of the Flagship Investment Limited’s property.

According to the documents attested by United Kingdom’s Land Registry Department, Hasan Nawaz established Flagship Investment Limited Company in 2001 and the address mentioned in those documents is of Park Lane Field.

Accountability Judge Arshad Malik while reading out the short order earlier today said there was no case against Nawaz in the Flagship reference.

The detailed verdict will be issued later by the accountability court.