Money-laundering case: FIA clears Suleman Shehbaz over ‘no evidence’

The Federal Investigation Agency (FIA) declared on Saturday Prime Minister Shehbaz Sharif’s son Suleman Shehbaz innocent in the Rs16 billion money-laundering case.

Suleman, who returned to Pakistan in December after four years of self-exile in London, was accused in a money-laundering case registered with the FIA while the National Accountability Bureau (NAB) nominated him in an assets-beyond-means reference. He was declared a proclaimed offender in both cases.

Today, Suleman was accompanied by his counsel Amjad Parvez in the hearing.

The FIA submitted a supplementary challan in Lahore court today, saying that they had found no evidence of the allegations against Suleman and they found him “not found guilty”.

The hearing was adjourned till February 4.

Background

The FIA had registered a case against then-opposition leader Shehbaz and his sons, Hamza and Suleman, in November 2020 under Sections 419, 420, 468, 471, 34, and 109 of the Prevention of Corruption Act and r/w 3/4 of the Anti-Money Laundering Act.

In December 2021, the agency had submitted a challan against Shehbaz and Hamza over their alleged involvement in a Rs16-billion’s money laundering case. The FIA’s report had alleged that Shehbaz family had 28 benami accounts, which were detected by an investigation team.

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They claimed that money laundering of Rs16.3 billion was committed during 2008-18 through these accounts. The FIA had examined the money trail of 17,000 credit transactions. The report had added up that the amount was kept in hidden accounts and given to Shehbaz in a personal capacity.

The FIA had alleged that the money received from the accounts of low-wage employees by Shehbaz had been transferred outside Pakistan to his family through the illegal practice of hundi. At least 11 low-paid employees of the Sharif family were said to have been guilty of facilitating this alleged money laundering.

However, in October, a special central court acquitted Shehbaz and his son Hamza Shehbaz in the Rs16 billion money laundering case.