The Federal Investigation Agency (FIA) has filed a Rs720 million money laundering case against former minister and Pakistan Muslim League - Q (PML-Q) leader Moonis Elahi and others.
The case against Moonis was filed under Sections 34, 109, 420, 468 and 471 of the Pakistan Penal Code.
According to the FIR, the agency had started an inquiry two years ago pursuant to a report of the Sugar Inquiry Commission 2020.
The FIR said: "During the ongoing probe against Rahim Yar Khan (RYK) / Alliance Sugar Mills Group, it transpired that the following low-profile individuals [Nawaz Bhatti and Mazhar Abbas] — one of them had been at a very low level at the time — had jointly set up RYK Sugar Mills Limited in 2007/2008 at Rahim Yar Khan."
It further said that the mill was set up by laundering funds from unexplained sources, adding that the mill's capital increased by Rs720 million in 2008 but the source for these funds, as well as those required for the acquisition of land, import of plants and machinery and administrative expenses, remained "unexplained".
"Record of banks examined so far has revealed that Nawaz Bhatti [Naid Qasid] and Mazhar Abbas had been signatory in multiple bank accounts with a turnover of Rs24 billion," the FIR said.
The FIR further stated that their shares, after passing through intermediaries, were acquired by two special purpose vehicles (SPVs), including Bhatti's nephew, Wajih Ahmed Khan Bhatti — who is an employee of the Punjab Assembly at present — and Cascade Tek Pvt Ltd.
"Both these SPVs are controlled by accused Ch Moonis Elahi (one directly and other one is controlled indirectly through his family member). This makes it evidently clear that accused M Nawaz Bhatti and Mazhar Abbass lent their identities and acted on behalf of Ch Moonis Elahi to disguise the origin and nature of ill-gotten funds/proceeds used to set up RYK Mills Ltd," the FIR said.
The FIR concluded that the inquiry has substantiated that Moonis, Bhatti, Abbas, Makhdum Omar Shehryar, Tarik Jawaid, Wajih and Muhammad Khan Bhatti have been involved in money laundering.
Later, Moonis said in a tweet: "Do whatever you want. I appeared before [the FIA] and will appear again. Wait for me, I am coming."
Earlier on Sunday, Moonis had said in a tweet that “the PML-N’s pressure tactics will not be able to withdraw PML-Q’s support to former prime minister Imran Khan".
The case against Moonis was filed under Sections 34, 109, 420, 468 and 471 of the Pakistan Penal Code.
According to the FIR, the agency had started an inquiry two years ago pursuant to a report of the Sugar Inquiry Commission 2020.
The FIR said: "During the ongoing probe against Rahim Yar Khan (RYK) / Alliance Sugar Mills Group, it transpired that the following low-profile individuals [Nawaz Bhatti and Mazhar Abbas] — one of them had been at a very low level at the time — had jointly set up RYK Sugar Mills Limited in 2007/2008 at Rahim Yar Khan."
It further said that the mill was set up by laundering funds from unexplained sources, adding that the mill's capital increased by Rs720 million in 2008 but the source for these funds, as well as those required for the acquisition of land, import of plants and machinery and administrative expenses, remained "unexplained".
"Record of banks examined so far has revealed that Nawaz Bhatti [Naid Qasid] and Mazhar Abbas had been signatory in multiple bank accounts with a turnover of Rs24 billion," the FIR said.
The FIR further stated that their shares, after passing through intermediaries, were acquired by two special purpose vehicles (SPVs), including Bhatti's nephew, Wajih Ahmed Khan Bhatti — who is an employee of the Punjab Assembly at present — and Cascade Tek Pvt Ltd.
"Both these SPVs are controlled by accused Ch Moonis Elahi (one directly and other one is controlled indirectly through his family member). This makes it evidently clear that accused M Nawaz Bhatti and Mazhar Abbass lent their identities and acted on behalf of Ch Moonis Elahi to disguise the origin and nature of ill-gotten funds/proceeds used to set up RYK Mills Ltd," the FIR said.
The FIR concluded that the inquiry has substantiated that Moonis, Bhatti, Abbas, Makhdum Omar Shehryar, Tarik Jawaid, Wajih and Muhammad Khan Bhatti have been involved in money laundering.
Later, Moonis said in a tweet: "Do whatever you want. I appeared before [the FIA] and will appear again. Wait for me, I am coming."
Earlier on Sunday, Moonis had said in a tweet that “the PML-N’s pressure tactics will not be able to withdraw PML-Q’s support to former prime minister Imran Khan".