thenews.com.pk 20 Sep, 2020 05:00 am

CIT summons Suleman Shahbaz on 25th on money laundering charges

CIT summons Suleman Shahbaz on 25th on money laundering charges
ISLAMABAD: The combined Inquiry/Investigation Team , comprising of FIA, SECP and SBP, has summoned Suleman Shahbaz Sharif on September 25, to investigate him in a criminal inquiry with respect to...

The call up notice further says, “You will be required to explain the huge structured deposits amount to over Rs9.“You will also be required to explain the source of money (Rs9.You may also be required to explain as to how and why yours low-wage employees (peon, clerks, managerial staff etc) – who were under your executive control as Director/CEO RSML & ASML, were able to suppress the statutory due diligence protocols of various banks to operate these high volume accounts and conduct high volume structured transactions, in an organised manner”, reads the notice.“You will also be required to explain the financial due diligence measures you undertook as Director /CEO- RSML &ASML to oversee that money from extraneous sources is not comingled with legitimate business transactions”, the notice says.

Home Today's Paper Top Story CIT summons Suleman Shahbaz on 25th on money laundering charges Top Story September 20, 2020 ISLAMABAD: The combined Inquiry/Investigation Team (CIT), comprising of FIA, SECP and SBP, has summoned Suleman Shahbaz Sharif (son of former CM Punjab Shahbaz Sharif) on September 25, to investigate him in a criminal inquiry with respect to charges of money laundering and financial fraud against various sugar mills, relevant entities and individuals.The Federal Investigation Agency (FIA) Directorate Punjab Zone has issued a letter No Misc/Sugar-Team/CIT/2020/1853 dated September 19, 2020 to Suleman Shahbaz.

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