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Panamagate hearing: Third offshore company of Sharifs crops up

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Until now we knew that Premier Nawaz Sharif’s children owned two offshore companies — Nescol Ltd and Nielsen Enterprises Ltd — but now a third company, Coomber Group, has cropped up while the Sharif family is struggling to prove the money trail for the purchase of luxury flats in London.

In the documents submitted before the Supreme Court in the Panamagate case, the Sharif family has attached two different deeds where Maryam Safdar is a trustee of her brother’s companies.

London flats were bought through Qatari investments, Sharif family tells SC

On February 2, 2006, Premier Sharif’s daughter signed a declaration with her brother Hussain Nawaz as a trustee in his two companies Nescol and Nielsen. The same day, she signed a similar declaration with him for another company, Coomber Group, in which he owns 49% shares.

This third company is likely to be the focus of Pakistan Tehreek-e-Insaf’s legal team in the next hearing scheduled for December 6.

After a two-week hiatus when a five-member bench of the apex court resumed hearing on Wednesday, the PTI legal team raised more than 10 questions to establish their case.

Agreeing to some of the arguments put forward by PTI’s lead counsel Naeem Bukhari, some judges observed that the Sharif family was ‘hiding’ facts about the ownership of the offshore companies as some necessary documents still seem to be missing in their replies.

The judges also raised questions on the money trail the Sharif family has so far submitted before the court and pointed out missing links. The missing details included banking transactions or any other channels through which money had been transferred from Dubai to Qatar and then to London to acquire the expensive property in an upscale neighbourhood of London.

One of the judges also pointed out that there were two contradictory descriptions on the part of the Sharif family. One was narrated by the prime minister on the floor of parliament, claiming his family had set up a factory in Jeddah in 1999 using money from the Gulf Steel Mills it had established in Dubai, and later the Saudi factory had been sold to buy London properties.

Panama leaks case: PTI submits ‘evidence’ against Sharif family

Justice Ijaz ul Ahsan, agreeing with Bukhari’s contention, said that the other narrative came from the written replies the Sharif family has submitted before the court in which the Jeddah factory has no mention and the money trail has been directly established from selling the UAE factory to investments with the Qatari royal family.

An affidavit submitted on behalf of a Qatari prince claims that the London flats had been given in the ownership of Hussain Nawaz in 2006 as part of a business deal against investments made by his late grandfather with his family in the real estate business in the early 1980s.

To substantiate this account, the Sharif family had submitted another affidavit from Tariq Shafi, a cousin of Premier Nawaz who actually owned the business in Dubai in the 1970s. According to him, he was working on behalf of his uncle, the late father of Premier Nawaz. All shares in those businesses in Dubai were sold in 1980, generating 12 million UAE dirhams. The bench observed that Shafi’s signature on the affidavit did not match with the signature in the agreement.

Bukhari contended that despite having liability of 14 million dirhams to Bank of Credit & Commerce International Dubai (BCCI), the Sharif family had invested 12 million dirhams in Qatar in 1980. He went on to state that there was not a single document produced by the Sharif family to establish how the money had been sent from Pakistan to Dubai, Qatar, Jeddah and Landon.

Justice Asif Khosa observed that there was no banking trail of transfer of money from Dubai to Landon. He, however, asked the PTI counsel to establish that the Sharif family was the owner of these flats prior to 2006.

Nawaz family used offshore firms to own UK properties

“If you establish a connection with this property prior to 2006, then the burden of proof will be shifted to other side. Show us the connection as this is your entire case,” Justice Khosa observed. However, he said Premier Nawaz in his speeches talked about the trail of the money as he may forget.

Justice Azmat Saeed Sheikh, who has expertise in white-collar crimes, raised several questions over the money trail of the Sharif family’s London flats. No explanation has been given about how the family had cleared liability to the BCCI. He also observed that there was no explanation from the Sharif family that how had they gotten the money to set up Jeddah Steel Mills.

He was also surprised how the respondents had hidden the name of the owner of the Minerva Officer Limited, which was a share-holder of Nielsen and Nescol in 1994.

“No supportive document has been submitted to establish the ownership of Minerva. Why this information is being hidden from the bench,” Justice Azmat remarked. The judge also observed that the bench was conducting the inquisitorial proceedings in this matter.

Earlier, Bukhari pointed out that Premier Sharif has made contradictory statements regarding the ownership of the Landon flats. He also stated that the prime minister has evaded tax, adding that Marriam was a dependent and remain a dependent. The Qatari prince’s letter has totally negated the prime minister’s earlier stance.

The case was adjourned until next Tuesday.

http://tribune.com.pk/story/1249948/panamagate-hearing-third-offshore-company-sharifs-crops/
 
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Not even a 'Trump letter' can save Nawaz from Panamagate probe, Imran says

Taking a swipe at Prime Minister Nawaz Sharif, Pakistan Tehreek-e-Insaf (PTI) chief Imran Khan said on Thursday that not even a conversation with US President-elect Donald Trump could ‘save’ the premier from the Panamagate probe.

The PTI chairman tweeted, “Good news is Trump spoke to Nawaz Sharif. Bad news for NS is this won’t save him from Panama scandal – not even if a Trump letter arrived!”

Imran remarked about a “Trump letter,” referring to the previous letter of a Qatari prince which the premier presented in the Supreme Court.

PTI expects ‘happy ending’ of Panamagate case soon

On Wednesday, the premier called Trump to felicitate him for becoming the 46th president of the United States after the November elections. The President-elect also told the premier “you are a terrific guy. You are doing amazing work which is visible in every way.”

Trump was all praise for Pakistani people as he said it was an amazing country with tremendous opportunities with “most intelligent people.”

On November 15, Prime Minister Nawaz Sharif and his daughter Maryam Nawaz submitted documentary evidence on the legitimacy of their assets before the top court, claiming a Qatari prince paid for their London apartment.

‘People made to pay for rulers’ corruption’

Meanwhile, Imran said people were made to pay the price of the rulers’ corruption.

“Petroleum and diesel have once again made expensive for the masses while the rulers have involved in massive money laundering,” Imran told reporters outside his Bani Gala residence. “With the rising inflation, the poor is being burdened with more taxes as the powerful reap benefit from the situation.”

Imran went on to add that Finance Minister Ishaq Dar owned property worth billions of rupees in Emirates Hill. “How will Nawaz Sharif ask him to bring back this money when he has his own, undisclosed money abroad,” he questioned.

Now the Sharif family has forged a trust deed to justify their ownership of another offshore company, he added. “The Sharifs produced one fraudulent trust deed after the other and lied about their documents.”

PTI denies receiving money from ‘prohibited source’

PTI chairman reiterated that the Sharif family was involved in tax evasion and tax theft and were living lavish lives spending money they could not explain sources of.

“If the premier were true in his stance, he would not produce several documents but he has not been able to provide a money trail of the Mayfair flats in London,” he added.

Concluding, Imran said more revelations were expected into the case, saying Pakistanis should think of it as a decisive moment for the country.

On November 3, the premier denied holding offshore companies in a written response to the Supreme Court on Panamagate petitions. In his reply, the PM said he had declared all his assets in 2013, hence was not liable for disqualification under Articles 62 and 63 of the Constitution.

The Panama Papers on April 3 revealed that Prime Minister Nawaz Sharif’s three children were among dozens of powerful people who own offshore companies in international tax havens. The revelations had whipped up a storm with political parties calling for the Sharif family’s accountability.

http://tribune.com.pk/story/1250241...r-can-save-nawaz-panamagate-probe-says-imran/
 
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The fairytale of PMLN continues but will he get what an ordinary citizens of Pakistan gets or what i see is that the Unity of corrupt people are stronger than the honest


@war&peace @SherDil007 @Farah Sohail @Morse_Code Guys what's your take on this latest situation
Not quiet yet... waiting for next hearing but till now it seems Badshah Salamat is in danger.
 
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I think PTI should submit the London court orders against Hadebia Paper mill. IN WHICH these companies belong to Sharef family. That was in 1999.
 
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The fairytale of PMLN continues but will he get what an ordinary citizens of Pakistan gets or what i see is that the Unity of corrupt people are stronger than the honest


@war&peace @SherDil007 @Farah Sohail @Morse_Code Guys what's your take on this latest situation

The artcle says tht in the next hearing...the third offshore company of Maryam Nawaz will be the focus of PTI legal team... I dont have much legal knowledge, but i dont think PTI should focus on third offshore company of Maryam Nawaz...as it will just expand the scope of SC, and will again delay the case, and its related to Maryam Nawaz... Pti legal team should focus on, and try to frame, Nawaz Sharif as person, if they want to disqualify Nawaz Sharif... Agar maryam par kuch sabit bhi hojaye..tu Nawaz Sharif tu phir bhi reh sakta hai... Pti focus should be on Nawaz sharif and how to present their arguments, and how to frame him, so tht he is disqualified...


EDIT......Also, i am not very hopeful.... I think unity pf corrupt is more stronger... Date is now 6th, i dont think case can be concluded till 14dec, us ke baad 15 tak farewell for Chief Justice, then winter holidays in SC, for two weeks.. Then bench will be dissolved, and a new bench will have to be formed, then again delay.. I dont understand, why did bench give date for 6th dec, after last hearing? Why not earlier than tht? Earlier they were giving almost daily dates? But two weeks ki date di..pehle, bcoz two judges were not available, phor 30th ke baad 6th ki de di...when they know tht CJ is retiring, and winter holidays are coming... Is ther any intent by SC, to delay the case? Maybe Nawaz Sharif will again succeed in delaying tactics.. Woh log pehle hi keh rahay thay ke November nikal gaya, (Gen Raheel Sharif's retirement) dec bhi nikal jayega(CJ retirement)
 
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