The Joint Investigation Team (JIT) constituted for probing the allegations of financial irregularities and money laundering by the Sharif family has recommended filing of a reference, through the NAB, against Prime Minister Muhammad Nawaz Sharif and his family after disparities were found between their known source of income and the actual wealth.
The six-member JIT, headed by Wajid Zia, submitted its final report to the three-member implementation bench on the Panama verdict on Monday, suggesting filing of a reference against the premier and his children. The findings also confirmed Maryam Nawaz Sharif as the real and beneficial owner of the BVI Companies namely Nielsen Enterprises Limited and Nescol Limited and owner of Avenfield properties in 2012 and before.
The JIT also confirmed that Prime Minister Muhammad Nawaz Sharif was the chairman of offshore company, FZE Capital, located in Jebel Ali, Dubai.
The JIT is compelled to refer to Section 9 (a) (v) of the National Accountability Ordinance, 1999, say the findings. “A holder of a public office, or any other person, is said to commit or to have committed corruption and corrupt practices:- (v) if he or any of his dependents or benamidars owns, possess, or has acquired right or title in any asset or holds irrevocable power of attorney in respects of any assets or pecuniary resources disproportionate to his known sources of income, which he cannot reasonably account for or maintains a standard of ASSETS beyond that which is commensurate with his sources of income—-“
Section 14 (c) of the National Accountability Ordinance, 1999:
“In any trial of an offence punishable under clause (v) of sub-section (a) of Section 9 of this Ordinance, the fact that the accused person or any other person on his behalf, is in possession for which the accused person cannot satisfactorily account, of assets or pecuniary resources disproportionate to his known sources of income, or that such person has, at or about the time of the commission of the offence with which he is charged, obtained an accretion to his pecuniary resources or property for which he cannot is satisfactorily account, the Court shall presume, unless the contrary is proved, that the accused person is guilty of the offence of corruption and corrupt practices and his conviction therefore shall not be invalid by reason only that it is based solely on such presumption.”