Pakistani politicians in Panama Leaks.
Controversy has long engulfed Prime Minister Nawaz Sharif's family, including three of his four children - Mariam, Hasan and Hussain - over their riches from a network of businesses that include steel, sugar and paper mills and extensive international property holdings. At various times, depending on the political party in power, the Sharifs - one of Pakistan's richest families - have been accused of corruption, ownership of illegal assets, tax avoidance and money laundering. Mariam, Hussain and their father have been detained on such charges, exiled to Saudi Arabia and also acquitted.
When allegations first surfaced in 2000, a family member called them "completely wrong," and declared: "This is a very religious family." Hasan, who moved to London over 16 years ago, and Hussain have been running family businesses from abroad. Mariam reportedly is being groomed to take over leadership of her father's political party.
Husain Nawaz at the age of 13, created 4 offshore companies worth 30 million dollars and acquired 4 flats in Mayfair, London. The seed fund for these companies came from the 'Tooth Fairy' who was buying his teeth at meagre million dollars a pop. I am safely assuming this as his whole family paid an average tax of 70 dollars per year in the 3 decades before (and one decade after) he founded these companies. His family was more poor than 90% of Pakistani tax payers.
At age 17, he was already a self made billionaire. But then, all their assets were frozen by a military dictator. He went to KSA. Took a loan, built a steel factory, and in just four years, he earned so much money that he completely repaid the loan and bought many businesses all over the world. At age 21, he was a multi billionaire. His father, the Prime MInister of Pakistan, is lucky to have a son like him. The PM does not own anything. He is under debt of millions of dollars that he has to repay to his sons while Hussain is however a multi billionaire. It is just a co incidence that his father is a politician.
Nescol Limited and Nielson Holdings Limited were incorporated in BVI in 1993 and 1994, respectively, and were held by one bearer share each. In February 2006, Mariam Safdar signed a resolution of Nescol Limited as the "sole (bearer) shareholder". MF was appointed as the registered agent through Minerva Trust which described Mariam Safdar as the beneficial owner of both companies.
Opposition politicians have pressed Sharif to resign after the so-called Panama Papers document leak revealed that three of his children controlled shell companies through which they owned expensive residential properties in London. Demands have picked up for a judicial commission under the country's chief justice to investigate any potential wrongdoing by the prime minister and his family.
Mr. Sharif has rejected any allegations of money laundering, claiming that his children have legitimate business abroad, and he has signaled his willingness to establish an inquiry commission.
Pakistani politicians in Panama Leaks: Prime Minister Nawaz Sharif's family (9 companies) is in trouble due to 9 companies under the Sharif family name. People indicted through these files are; Hassan Nawaz, Hussain Nawaz and Maryam Nawaz. Punjab Chief Minister Shahbaz Sharif's relatives (7 companies) Samina Durrani, Ilyas Mehraj. Former prime minister Benazir Bhutto but her close relatives and others have been indicted for more, listed as following nephew Hassan Ali Jaffery, Javed Pasha, close friend of Asif Ali Zardari (4 companies), PPP Senator Rehman Malik (1 company), PPP Senator Osman Saifullah's family (34 companies), Anwar Saifullah, Salim Saifullah, Humayun Saifullah, Iqbal Saifullah, Javed Saifullah and Jehangir Saifullah.
Chaudharies of Gujrat are not in list but close relatives Waseem Gulzar, Zain Sukhera (co-accused with former Prime Minister Yusuf Raza Gilani's son in the Hajj scandal). Pakistani businessmen in Panama Leaks: Real Estate Czar Malik Riaz Hussain's son (Bahria Town), Ahmad Ali Riaz (1 company), Chairman ABM Group of Companies Azam Sultan (5 companies), Pizza Hut owner Aqeel Hussain and family (1 company) Brother Tanwir Hassan, Chairman Soorty Enterprise Abdul Rashid Soorty and family, Sultan Ali Allana, Chairman of Habib Bank Limited (1 company), Khawaja Iqbal Hassan, former NIB bank President (1 company), Bashir Ahmed and Javed Shakoor of Buxly Paints (1 company), Mehmood Ahmed of Berger Paints (1 company), Hotel tycoon Sadruddin Hashwani and family (3 companies), Murtaza Haswani Owner of Hilton Pharma, Shehbaz Yasin Malik and family (1 company).
The Hussain Dawood family (2 companies) Shahzada Dawood, Abdul Samad Dawood, Partner Saad Raja, Abdullah family of Sapphire Textiles (5 companies). Yousuf Abdullah and his wife, Muhammad Abdullah and his wife, Shahid Abdullah and his family, Nadeem Abdullah and family, Amer Abdullah and family, Gul Muhammad Tabba of Lucky Textiles, Shahid Nazir, CEO of Masood Textile Mills (1 company), Partner Naziya Nazir, Zulfiqar Ali Lakhani, from Lakson Group and owner of Colgate-Palmolive, Tetley Clover and Clover Pakistan (1 company), Zulfiqar Paracha and family of Universal Corporation (1 company). Pakistani Judges in Panama Leaks: Serving Lahore High Court Judge Justice Farrukh Irfan, Retired Judge Malik Qayyum, Pakistani Media personnel in Panama Leaks: Mir Shakil-ur-Rehman of GEO and Jang Group (1 company)
The Federal Board of Revenue (FBR) has decided to confirm the documents of offshore companies from Panama government and the formal investigation will be started after the official confirmation. The people who accepted the ownership of offshore companies will be included in the investigation. The number of Pakistanis exposed in the Panama Papers is more than 250.
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|Date:||May 31, 2016|
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