Now UN money laundering department will also investigate Nawaz Sharif. Looks like Nawaz Sharif is entering into more trouble zone as the Pakistani political inspections turn international since UN anti-money laundering department has decided to start investigations against Pakistan’s former premier Nawaz Sharif.
After the verdict of Avenfield, now PML-N leader is being investigated by international accountability bureaus.
The active efforts put forward by the National Accountability Bureau (NAB) and the Federal Investigation Agency (FIA) have shown efficiency in their output just before to the upcoming general elections.
The department has made a decision to seize all records regarding financial matters of Nawaz Sharif and his family from the concerned banks.
According to the initial investigation against Nawaz Sharif which led him to his disqualification, PM unraveled his funds transfer of 10.4 million USD from Saudi Arabia in the years 2014-2017 to Habib Bank, New York Branch. Later, this money was received in Standard Chartered Bank Raiwind Branch, Lahore.
“On 9th March, 2015, $799,945 had been transferred from Al-Razi bank to Habib Bank, New York branch and then transferred to Nawaz Sharif via Standard Chartered.”
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As a result, now United Nations Office on Drugs and Crime, UNODC, announced an official investigation on Nawaz’s suspected money laundering via HBL.
After finding out solid proofs about the amount remittances, United States’ concerned departments ended up imposing a fine of Rs. 26 billion on HBL’s New York branch on the account of hidden huge amounts laundered.
Take a look on the detail on Nawaz’s accounts
Nawaz Sharif had opened an account in Saudi Arabia’s bank under the title, ‘Hill Metal Company’, which had a huge amount of remittance. Moreover, the former PM had misused Habib Bank of Pakistan, Al-Razi Bank Saudi Arabia and Standard Charted Bank.
According to the records, Nawaz had committed fraud of money amounting to $10.4 million. After knowing that, International Anti-Money Laundering Department has sped-up their investigation processes.
The documents states, $266,000 had been transferred to Hill Metal Jeddah, Saudi Arabia which were rewired afterward to Nawaz Sharif on 3rd March, 2014.
“Upon gathering of written evidences against former Prime Minister, Nawaz Sharif, the UN anti-money laundering department has decided to start investigations against Nawaz Sharif.”
These funds had also been unconfined from Habib Bank Branch New York. In the same way, Al-Razi Bank, Saudi Arabia and Habib Bank were also caught up in this transaction.
Furthermore, $799,945 had been transferred from Al-Razi bank to Habib Bank, New York branch on 9th March 2015 and then transferred to Nawaz Sharif through Standard Chartered.
So, let’s see what will be the result of these investigation against former PM Nawaz Sharif as he is currently locked up in Adiala Jail,
On 22nd March 2015, $ 499,965 was transferred from Saudi Arabia to Habib Bank Branch New York which were later transferred to Standard Chartered Bank, Lahore in Nawaz Sharif’s accounts. During April 2015, another transaction took place where $8,165,000 was transferred from Saudi Arabia to Habib Bank New York Branch, following the same pattern, transferring the amount to Standard Chartered Bank Lahore.
