The Federal Investigation Agency (FIA), which is investigating the Rs 720 million money laundering case against former minister and PML-Q leader Moonis Elahi, has found that front-man Nawaz Bhatti was a signatory of at least 32 bank accounts with a credit turnover of around Rs 24 billion.
According to the agency, Moonis Elahi had borrowed the identities of front-men Bhatti and Mazhar Abbas to set up the Rahim Yar Khan (RYK) Sugar Mills from allegedly ill-gotten wealth.
However, the PML-Q leader has denied any links to alleged front-men.
Earlier this month, the FIA had filed a money-laundering case against Elahi and others 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.
“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,” the FIR said.
The FIR concluded that the inquiry has substantiated that Moonis Elahi, Nawaz Bhatti, Abbas, Makhdum Omar Shehryar, Tarik Jawaid, Wajih and Muhammad Khan Bhatti have been involved in money-laundering.
