FIA announces ‘Major breakthrough’ in fake accounts case against Shehbaz Sharif
Sept 20, 2021: The Federal Investigation Agency (FIA) has made significant progress in the fake accounts case against PML-N president Shahbaz Sharif and his family and arrested Asim Suri, vice-president of a private bank and head of compliance.
According to sources, Suri was pressuring bankers and witnesses to change their statements. Teams were also formed to arrest another accused, former FIA Lahore director Azhar Mahmood.
The accused has also been the Additional Director of Banking Circle and is currently holding a senior position in a private bank. It is learned that Mahmoud had contacts with Suri. Mobile data and chat records between Mahmood and Suri have also been confiscated. According to sources, both the accused have also come in contact with the owner of a private bank.
Suri and MCB Group Head Azhar Mahmood were allegedly coercing prosecution witnesses, including bank officials, into changing their statements in the case, the sources revealed. They said an FIA team has been dispatched to arrest Mahmood as well.
The FIA is investigating cases against PML N leader Shehbaz Sharif and his son Hamza Shehbaz with charges of laundering ill-gotten funds worth Rs25 billion using the Ramazan Sugar Mills and Al-Arabiya Sugar Mills. Both father-son are out on bail.
An investigation into the money laundering charges against Shehbaz and members of his family revealed that his assets increased from Rs14.86mn to Rs7328mn in the past 20 years.
Shehbaz made properties worth Rs619.85 million which include three homes; 96-H Model Town residence, Defence house and Doonga Gali house. The declared assets by the PML-N president and his family in the year 2018 had gone up to Rs584 million while the latter had also succeeded in forming a proper money laundering set up in 2018.
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