The wealth of the Shahbaz Sharif family has gone from Rs 2 crore to Rs 20,000,000 in 30 years

LAHORE: The anti-corruption watchdog has claimed that the wealth of Shahbaz Sharif's family has gone up from Rs 2 crore to Rs 20,000,000 in the last 30 years, which they have failed to prove, The News reported on Tuesday.

Following the arrest of PML-N President Shahbaz Sharif from the premises of the Lahore High Court (LHC) on Monday, a document was shared by the National Accountability Bureau, which claimed that Shahbaz had declared assets of 2.11 million in 1990, an increase of 26 years in 2011. of in, 336 million rupees.

The PML-N leader was taken into custody after her bail application was rejected by the LHC in a money case and in a property case outside the property case. His party did worse than expected from opinion polls, which saw them at gaining about a third of the support of his brother Nawaz Sharif.

Read more: 'This movement will not stop,' Maryam Nawaz swears after Shahbaz Sharif's arrest

According to the NAB, Shahbaz declared his net worth at 22.12 million in 1990, while his net worth (including the amount of assets of his minors) increased to Rs 14.66565 million in 1996.

‘Organized money laundering system’

The anti-corruption watchdog PML-N has accused the president that his co-accused family members, anonymous, front men, close associates, employees and moneylenders have set up a consolidated money laundering system to extract unnecessary wealth from his known source. Revenue was, 32,338 million.

After being in public office (mostly in 2008 and 2018 when Shahbaz was chief minister), his family amassed a fortune of Rs 7,338 million, the NAB added.

Sharing details of the Leader of the Opposition's assets, Neb Lahore further claimed that the Shahbaz family had invested Rs 2,770 million in 13 newly established companies under the umbrella of Sharif Group of Companies, naming 13 Messrs. Al-Arabiya Sugar Mills, Messrs. Sharif Dairy Farms etc.

Read more: Miriam's press conference chargesheet against Shahbaz Sharif, says Shahzad Akbar

The defendants are employees of the anonymous company Messrs. Good Nature Trading Company Pvt. Ltd., Messrs. Unitas Steel Pvt. . The accused also acquired property with foreign assets including 969-H, Model Town, Lahore, Nishat Lodge Dunga Gali, Whispering Pine Villas, DHA, Lahore house worth 6 6199.7 million.

The NAB claimed that the accused and his family members / anonymous persons showed foreign remittances of Rs 1,997 million and loans of Rs 1,100 crore to prove the justification of assets worth Rs 338 million, which was proved to be fake by the accused or his family members. Refused to send money.

Moreover, the loans were misrepresented as sources, the donors actually paid the Sharif group employees, the NAB added.

‘Property, 338 million, income 5744.444 million’

The statement further said that the value of non-essential assets of the Shahbaz Sharif family acquired through landlocked money was Rs 7,222 million in 201, whereas Shahbaz and his total known sources said the family was Rs 5444.444 million.

It has been claimed that the aforesaid assets of the accused and his family members have proved to be unnecessary compared to their source of income.

The NAB concluded that the declared and undeclared assets of the accused were identified during the investigation, for which they could not give an account, as the source of their claimed income proved to be fictitious and unknown.