Chaudhry Sugar Mills case: NAB's reference in final stages

Chaudhry Sugar Mills case: NAB's reference in final stages

The reference will be sent to headquarters this month for approval. NAB sources

LAHORE: The National Accountability Bureau (NAB) has prepared a reference against former Prime Minister Nawaz Sharif and Maryam Nawaz in the Chaudhry Sugar Mills case, which will be sent to the National Accountability Bureau headquarters for approval this month. According to details, NAB Lahore has completed the preparation of Chaudhry Sugar Mills reference. NAB sources said that it has been decided to nominate 13 accused including Nawaz Sharif, Hussain, Maryam and Shahbaz in this reference, while 50 Witnesses may join this reference.

Sources said that the accounts of Chaudhry Sugar Mills used to receive money from abroad. In 1992, a foreign company provided Rs 15.5 million to Nawaz Sharif in the mills. However, the answers to these questions could not be ascertained. Why the money was transferred, and who owned the company. Huge investments were made in Chaudhry Sugar Mills between 2001 and 2017. Millions of shares were given to foreigners in Chaudhry Sugar Mills, the same shares were returned to Maryam, Hussain and Nawaz Sharif without any payment.

Sources said that the company has been accused of using the name of foreigners as proxies for investment, while the Sharif family has been accused of using the money used for investment as illegal. The NAB has alleged that Rs. One lakh shares were transferred to foreigner Naseer Abdullah. NAB says important documentary evidence is also being included in the Chaudhry Sugar Mills reference.

It may be recalled that during the PML-N regime, in January 2018, the Department of Financial Oversight had informed the NAB about the highly suspicious transactions of Chaudhry Sugar Mills under the Money Laundering Act. The investigation revealed that the families of Nawaz Sharif, Maryam Nawaz, Shahbaz Sharif and his brother Abbas Sharif, as well as some foreigners from the United States and the United Kingdom were partners in the company.

Sources said that billions of rupees were invested in Chaudhry Sugar Mills in the name of foreigners between 2001 and 2017 and they were given shares worth lakhs of rupees. Since then, the same shares have been used several times by Maryam Nawaz, Hussain Nawaz and Nawaz Sharif. Were returned without any payment, leading to the conclusion that the name of the foreigners was used as a proxy for the huge investment in the company because the money used by the Sharif family for the investment was not legal.

On July 31, she appeared at the NAB's request for interrogation and recorded her statement before the NAB team for 45 minutes regarding the suspected transactions of Chaudhry Sugar Mills. According to the report, Yousuf Abbas and Maryam Nawaz were involved in the investigation. Joined but was unable to identify the foreign investors and the source of the money and could not answer any question except the questions sent in the Maryam Nawaz notice.

On August 8, the National Accountability Bureau (NAB) summoned Maryam Nawaz again and asked her for details of her partnership in Chaudhry Sugar Mills. Abdullah was instructed to provide details of financial matters related to Lota. Along with this, details of remittances and telegraphic transfers received and sent to her from abroad were also sought from Maryam Nawaz. On August 8, the National Accountability Bureau in the Chaudhry Sugar Mills case, Maryam Maryam Nawaz was arrested and transferred to NAB headquarters, after which his physical remand was extended several times, after which the court remanded him to NAB on September 4 for another 14-day remand.

He was produced in court again on September 18, where the court extended his physical remand for seven days and ordered him to be produced on September 25. Later, when Maryam Nawaz was produced on September 25, he was remanded in custody. Rejecting the request for extension of judicial remand, he was sent to jail on judicial remand. Maryam Nawaz's court remand has also been extended several times and the last time she was produced in court on October 25, her judicial remand was extended till November 8. Release from Lahore Accountability Court on November 6. After his release, PML-N vice president Maryam Nawaz was released on bail.