ISLAMABAD – Sharif family Chaudhry Sugar Mills turned out to be a corporatefraud and used for money laundering from Pakistan.
Special Assistant to the Prime Minister (SAPM) on Accountability ShahzadAkbar has on Thursday termed the Chaudhry Sugar Mills as a big corporatefraud which was used for money laundering.
The SAPM held a press conference and said former prime minister NawazSharif showed assets worth Rs 1.3 million when he built the sugar mills andthen an offshore company – Chadron Limited, St Hellier Jersey – was formedunder which eight more offshore companies functioned.
“Loan of Rs 80 million was taken for the Chaudhry Sugar Mills. Furthmore,Punjab Carpet Company also granted loan worth Rs 65 million to Shariffamily. Accounts were opened in Pakistan in the name of Qazi family.
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“The shares were transferred to Nawaz Sharif first and then to MaryamNawaz. All affairs were supervised by former finance minister Ishaq Darbefore Salman Shahbaz.
The assets of Chaudhry Sugar Mills are now worth Rs six billion.”
