NAB wraps up probe into Sharif Trust case against Nawaz, family members

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ISLAMABAD (ANN): The National Accountability Bureau (NAB) has given a go-ahead to wrap up six corruption cases including an inquiry against Nawaz Sharif and members of his family regarding Sharif Trust case.

The investigation into the Sharif Trust case against Nawaz and his family members has been closed following the decision made during the Executive Board Meeting (EBM) of the Bureau, held on January 1, 2024, which was presided by NAB chairman, said a Bureau announcement shared on its official website.

The investigation into the Sharif Trust case was authorised on March 31, 2000. The complaint alleged that the Sharif family had received large sums of money through illicit means in the Sharif Trust. Additionally, it was claimed that the trust’s accounts had not undergone audit scrutiny and that funds had been misappropriated. The allegations further included the acquisition of assets by the Sharif family under the guise of benami properties held in the name of the trust.

In its report, the controversial Panama Joint Investigation Team (JIT) submitted to the Supreme Court of Pakistan had criticised the NAB for delaying the investigation into the Sharif Trust case without proper justification. The JIT recommended that the NAB be directed to take swift action to complete the investigation.

Now, the investigation has been terminated by the Bureau under Section 31-B of the National Accountability Act, 2022.

Apart from the Nawaz Sharif case, five other inquiries have also been closed. These include inquiries against Akbar Nasir Khan, Ex-Chief Operating Officer of Punjab Safe Cities Authority (PSCA), officers/officials of PSCA & others; inquiries against concerned public functionaries and others regarding loan agreement No. PK-C18 between the Government of Pakistan and the Government of Japan for a grant of a loan amounting to US$ 250 Million (the equivalent of Yen 32.032 Million or Rs. 11 Billion) to create a counter fund under the Social Action Program (SAP) during the year 1998; inquiry against officers/officials of CDA regarding Park Enclave Housing Society; inquiry against officers/officials of the Federal Government regarding illegal appointments of favored individuals in public limited companies of Islamabad and provision of funds of billions of rupees in violation of relevant rules; and inquiry against Shahid Malik, Shahbaz Yaseen Malik, Saima Shehbaz Malik, and others.

 

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