Pakistan PM Nawaz Sharif is also the second prime minister who stepped down after the Panama leak. Former prime minister of Iceland was the first one.
The 2016 Panama Papers leak showed that Sharif and his family had allegedly indulged in money laundering to buy expensive assets in London in the 90s through offshore companies.
Panama Papers case: Pakistan’s Prime Minister Nawaz Sharif has been disqualified by the Supreme Court and the case will now be probed by the National Accountability Board, the anti-corruption agency of that country.
Panama papers hearing LIVE updates: Nawaz Sharif was allegedly involved in money laundering to buy assets in London in the 1990s. The 2016 Panama Papers leak revealed that the assets were being managed through offshore companies owned by Sharif’s children.
The six-member Joint Investigation Team (JIT), set up by the apex court to investigate charges of money laundering against 67-year-old Sharif, submitted its 60-day investigation report to the court on July 10.
The six-member panel of the JIT, in the 9th Volume of its 256-page report, said that the wealth of the fortunes of Sharif’s father, late Mian Muhammad Sharif, had multiplied 4.3 times from Rs 7.53 million to Rs 32.15 million, but his source of income is not commensurate with the increase in his assets.
Panama Papers JIT probe: Trying to garner sympathy for himself from his party members, Pak PM Nawaz Sharif, while chairing a party meeting of the PML-N, said, “The controversial report by the controversial JIT is a bundle of baseless allegations of our opponents.
Memes and jokes flooded Twitter and Calibri started trending on the micro-blogging site. Pictures of Bill Gates and Nawaz Sharif have become a hit meme too.
Following his appearance before the JIT, the Pakistani PM called the day “a milestone in upholding the supremacy of rule of law”.
Panama Papers: Data shows that in several of these companies incorporated by Mossack Fonseca, there was a fresh allotment of shares and, therefore, enhanced holdings among members of the Mehra family, first in 2011, then 2013 and, finally, March 2015.
The Joint Investigation Team (JIT) chief Wajid Zia had summoned the prime minister to appear before the six-member probe team today with all documents relevant to the case.
Nawaz Sharif on Thursday will become the first sitting Pakistani Prime Minister to appear before an investigating agency, according to Dawn news reports
Muscat went to the polls a year early after his wife was implicated in one of a series of alleged corruption cases. But the allegations had little impact among Labour’s loyal base against a backdrop of a booming economy and the lowest unemployment in the country
The JIT was set up following a decision by the Supreme Court on April 20 regarding Panama Paper case.
Imran Khan accused all current the leaders of Pakistan of exploiting the country’s natural resources.