Pakistan

Shahbaz Sharif’s family put on ECL in money laundering case

LAHORE: The authorities have placed the name of National Assembly Opposition Leader Shahbaz Sharif’s wife along with his two daughters on the Exit Control List (ECL) in reference to a money laundering probe, it emerged on Friday.

The members of the Sharif family have been investigated in reference to the ongoing mega money laundering scam against them.

The government placed 10 members of the Sharif family on thr no-fly list after getting approval from the federal cabinet.

The move comes two weeks after the government arrested Shehbaz Sharif after the Lahore High Court rejected his bail petition in the related case.

According to a NAB investigation report, the chief financial officer of the businesses owned by the Sharif family, Muhammad Usman, laundered money on behalf of his employer.

Muhammad Usman started working at Ramzan Sugar Mills in 2005 for Rs90,000 a month pay. The following year, the family of prime minister Nawaz Sharif acquired Hudaibiya Engineering Company from the Shehbaz family.

In 2007, more companies were registered by the Shehbaz family, including the Sharif Feed Mill, in order to expand their business.

The bank accounts of Shehbaz’s wife, Nusrat Shehbaz, and his sons were used for foreign remittances and loans. A trading agency, Waqar Trading Company, made fake foreign remittances in the region of Rs600 million on the direction of Suleman Shahbaz.

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