NAB summons SECP officer in Chaudhry Sugar Mills' case

LAHORE: The National Accountability Bureau (NAB) has summoned an officer of the Securities and Exchange Commission of Pakistan (SECP), Tahir Mehmood, on September 27 in order to proceed investigation into Chaudhry Sugar Mills case, ARY News reported on Thursday.

The anti-corruption watchdog stepped forward into investigation of money laundering and illegal transfer of shares of Chaudhry Sugar Mills owned by Sharif family.

Tahir Mehmood, a SECP officer, has been summoned by the bureau’s Lahore office on September 27 (Friday) along with records.

Earlier on September 18, an accountability court had extended physical remand of Pakistan Muslim League-Nawaz vice President, Maryam Nawaz and her cousin Yousaf Abbas for a week, in a case pertaining to Chaudhry Sugar Mills.

Read More: NAB makes Nawaz Sharif part of Chaudhry Sugar Mills probe

The NAB team presented Maryam and Abbas before the court of accountability judge Ameer Muhammad Khan as their 14 days remand expired today.

The hearing was adjourned for a while as workers of the PML-N forcibly entered Judicial complex and the courtroom to meet their leader.

The PML-N workers continued to chant slogans in the courtroom despite several warnings by the judge.

NAB had arrested Maryam and Yousaf on August 8.

On Aug 23, sources within the anti-graft watchdog had claimed that the bureau will soon write to relevant banks and other institutions, asking them to freeze the movable and immovable assets owned by both the accused.

Chaudhry Sugar Mills case

In a press conference, Special Assistant to the Prime Minister on Accountability Shahzad Akbar had said the Sharif Family had used Chaudhry Sugar Mills for money-laundering and illegal transfer of its shares.

During the probe, it was revealed that a $15 million loan was taken on the pretext to set up the mill despite the fact that it had already been established before the loan was acquired, the special assistant claimed. He had added that the loan was never transferred to Pakistan as shown by the record of the State Bank of Pakistan.

He had said more than Rs7 million worth of shares were transferred to PML-N vice president Maryam Nawaz in 2008 through mill’s shares, which were later transferred to Yousaf Abbas Sharif in 2010.