ISLAMABAD: The Panamagate Joint Investigation Team (JIT) during a grilling session with All Pakistan Sugar Mills Association Chairman Javed Kayani had learnt that he opened and operated factitious bank accounts for money laundering on directions of his uncle, who is close friend of Prime Minister Nawaz Sharif, ARY News reported on Saturday.
The probing team concluded that the ruling Sharif family was the actual beneficiary of these fictitious accounts through which fraudulent transactions were carried out from 1990 to 1994.
According to the JIT’s report, Kayani admitted during an interrogation session that he opened those accounts for acquiring loans and transferring money into foreign banks on the direction of his maternal uncle Sheikh Saeed, a close friend of the premier.
The six-member JIT formed to probe money trail of Sharif family’s offshore wealth presented the statements of the Sharif family members and others in the second volume of its report submitted to the Supreme Court of Pakistan.
“Illegally circulated money in various fictitious/Benami and a few family accounts was used to acquire loan for Hudaibiya Mills. Huge part of this money was transferred from Benami account of Salman Zia and others to Shamrock and other offshore companies,” the report says.
It is to be mentioned that the London flats were purchased during this time period, 1990-94, when Kayani opened and operated factitious accounts for carrying out fraudulent transactions.
The probe team through its report has also told the Supreme Court that the National Bank of Pakistan’s incumbent President Saeed Ahmad was also involved in fraudulent transactions in favour of the Sharif family while recommending the apex court to include his name in list of accused in Hudaibiya Papers Mills case.
The JIT team, headed by FIA Director Wajid Zia, also apprised the top court of placing Kayani and Saeed’s names on the Exit Control List and has made a request of keeping the names on the list till a final decision by the top court is announced.