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offshore companies

NAB grills PML-Q leader Moonis Elahi over offshore companies

LAHORE: The National Accountability Bureau (NAB) officials on Wednesday questioned Chaudhry Moonis Elahi, son of former Punjab chief minister and PML-Q leader Chaudhry Pervez Elahi, in connection with an inquiry pertaining to offshore companies. Sources say Elahi was grilled by a three-member team of the bureau about offshore companies for over an hour before he was allowed to leave the NAB office. The PML-Q leader could be summoned one more time to submit details of his offshore company if the team didn’t find his…

What are Paradise Papers? A brief guide to second largest leak

As the inclusion of former Prime Minister Shaukat Aziz in the ‘Paradise Papers’ hit headlines on Monday, the masses begin to show curiosity about it. Here is a brief exposé of the leaked papers.  The Paradise Papers are the second largest leak obtained by German newspaper Süddeutsche Zeitung and investigated by the International Consortium of Investigative Journalists (ICIJ) reveals how two firms; Bermuda’s Appleby and Singapore’s Asiaciti Trust, help the global rich and powerful move their money abroad. The leak…

After Panama Papers, Paradise Papers reveal hidden wealth of world leaders!

The International Consortium of Investigative Journalists (ICIJ), the body of journalists responsible for revealing the Panama Papers a year ago, on Sunday made new revelations regarding offshore companies of more than 120 politicians and world leaders including former prime minister Shaukat Aziz, US Secretary of State Rex Tillerson and Britain's Queen Elizabeth II. The trove of 13.4 million records has been dubbed the Paradise Papers. "The documents speak for themselves. The kind of patterns we saw with the Panama…

Party funds, offshore companies: SC hears plea against Imran, Tareen 

ISLAMABAD: A Supreme Court bench headed by Chief Justice Saqib Nisar heard a petition on Tuesday about Imran Khan and Jahangir Tareen for allegedly owning offshore companies, ARY News reported. The petition has been filed by Pakistan Muslim League-Nawaz (PML-N) leader Hanif Abbasi against Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan and another party leader Jahangir Tareen. Chief Justice Saqib Nisar in the hearing remarked that the petitioner has levelled five charges against Imran Khan, the topmost of which is the…

Panama Papers a year on: What we know

PANAMA CITY: It's been a year since the Panama Papers burst on the scene. The scandal has rocked governments, exposed high-profile personalities, triggered scores of investigations around the world and dealt a blow to Panama as an offshore financial hub. What are the Panama Papers? A trove of 11.5 million digital records from the Panamanian law firm Mossack Fonseca that revealed how many of the world's wealthy used offshore companies to stash assets. The data were leaked to a German newspaper, Sueddeutsche Zeitung,…

Panamagate Case: SC seeks suggestions from petitioners, defendants on commission

ISLAMABAD: Whether to make a commission on Panamagate scandal or not? The Supreme Court of Pakistan on Wednesday sought suggestions from petitioners and defendants before adjourning the case hearing until December 9. A five-judge larger bench of the Supreme Court was of the view that the prime minister must answer to clarify his stance in Panamagate case. “The commission will be made on the basis of accusations levelled by PTI and will be headed by a Supreme Court judge,” said Justice Pakistan Anwar Zaheer Jamali.…

Panama Leaks Case: PM would have to prove his income source, jurists say

ISLAMABAD: Prime Minister Nawaz Sharif would have to prove the source of his income used for purchase of the offshore companies, former judges and lawyers have said in their comments on Panama Leaks case. In ARY News talk show "Sawal Yeh Hai", a retired judge was of the opinion that the prime minister would have to prove his source of income used for purchasing flats in London. The burden of proof is not upon the petitioner but Nawaz Sharif and his family members would have required to prove their source of income.…

Panamagate Case: SC orders to show property documents as PM’s children submit replies

ISLAMABAD: Adjourning the hearing of the infamous ‘Panama Papers’ leaks case until November 15, the Supreme Court of Pakistan on Monday ordered Maryam Nawaz, Hussain Nawaz and Hasan Nawaz to file documents related to their properties before then. A five-member larger SC bench headed by Chief Justice Pakistan Anwar Zaheer Jamali resumes the enquiry today after Prime Minister Nawaz Sharif’s legal adviser Salman Aslam Butt submitted replies of his children. Chairman Pakistan Tehreek-i-Insaf (PTI) Imran Khan and Awami…