Role of Salman Shahbaz in money laundering and corruption

NAB’s probe found that Hamza Shehbaz’s declared assets in 2003 were worth less than Rs20 million, which increased by almost 2,000 per cent to over Rs410 million after his father became Punjab CM.

Similarly, his younger brother Suleman Shehbaz’s personal wealth increased 8,500 times and he now has assets worth more than Rs3 billion.

They said the evidence found was irrefutable and showed striking similarities with the money laundering and fake accounts case against former president Asif Ali Zardari and other Pakistan Peoples Party leaders.

Hamza Shahbaz, on Friday, appeared before the anti-corruption watchdog to answer the questions pertaining to the charges of alleged money laundering and assets beyond known sources. He had been asked to present before the investigators along with the complete record. The Pakistan Muslim League Nawaz (PML-N) leader faced an inquiry by a three-member investigation team which continued for two hours and 45 minutes, sources said.

According to sources, Hamza Shahbaz told the NAB that he only deals with political matters whereas his brother Sulaiman Shahbaz looks after financial matters. The investigators reportedly inquired Hamza with the evidence of money laundering acquired from families’ front men who are already in NAB’s custody. Hamza failed to give satisfactory answers, as per the sources. He has been re-summoned on April 16 by NAB along with the documents required for investigation.

The investigators obtained ample evidence during probe, showing huge transfer of money through telegraphic transfer (TT), or telex transfer that is used to refer to an electronic means of transferring money. The NAB sources said telegraphic transfers ceased to take place in the Hamza’s account after he became the member of the Lower House of the Parliament.

The sources said NAB has also arrested some close associates and facilitators who gave up details of the Sharif family’s corruption and money laundering process.

They said more arrests were expected over the coming days and other close family members and associates would be included in the investigation.