Maryam Nawaz and Yousuf Abbas' physical remands extended by 14 days

LAHORE: The accountability court continued hearing the Chaudhry Sugar Mills corruption case against PML-N Vice President, Maryam Nawaz Sharif and Yousuf Abbas, ARY News reported on Wednesday.

The court extended the physical remands of both the accused by 14 days.

Prosecutors of Pakistan Muslim League Nawaz (PML-N) Vice President, Maryam Nawaz did not contest or raise objections to the sentencing.

Read More: Maryam Nawaz, Yousuf Abbas remanded in NAB’s custody till August 21

The National Accountability Bureau (NAB) prosecutor revealed that the investigations were underway through varying aspects and spectrums.

The NAB prosecutor also unveiled that there are particular transactions carried out in the 90’s which were currently being focused.

NAB officials escorted both individuals out of the court premises back into detention.

Chaudhry Sugar Mills case:

In a press conference, Special Assistant to the Prime Minister on Accountability Shahzad Akbar 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.

Read More: NAB arrests Maryam Nawaz from Kot Lakpath jail

He added that the loan was never transferred to Pakistan as shown by the record of the State Bank of Pakistan.

“Chaudhry Sugar Mills remained a hub of money laundering,” Akbar said.

He 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.