Re: A big global scandal...and who is at the top?
^ there is mention of Putin and British politicians on Dunya News but strangely NO mention of Nawaz Sharif...is it intentional on the part of news media to hide his name or it's just an unintentional omission. hard to say!
i'm surprised that Zardari's name didn't surface.
Re: A big global scandal...and who is at the top?
^ there is mention of Putin and British politicians on Dunya News but strangely NO mention of Nawaz Sharif...is it intentional on the part of news media to hide his name or it's just an unintentional omission. hard to say!
i'm surprised that Zardari's name didn't surface.
That does not mean Zardari is clean - this is just one way of hiding money.
There are many ways/places for Zardari, Altaf Hussain, Army general's, etc. to hide their money.
Re: A big global scandal...and who is at the top?
^ indeed, what i meant is that he probably hiding his money somewhere else...most likely in swedish banks. :)
Re: A big global scandal...and who is at the top?
^ indeed, what i meant is that he probably hiding his money somewhere else...most likely in swedish banks. :)
Agreed.
It will take at least a generation of sustained and accountable democracy for change to occur.
Corruption will never disappear - but it can lessen.
Re: A big global scandal...and who is at the top?
Zardari has his loot stashed in third party accounts and names...very little in his own name, similar to how Nwaz Sharif operates. Bilawal, Asifa and Bakhtawar are equally complicit. Most of their time is spent out of Pakistan, with properties in Dubai, UK , France and the US, and noone has ever questioned the source of income, or the trail of funds going to these businesses.
For Nawz Sharif, it is indeed a big blow (if he has any iota of shame that is), but chances are, we will see a barrage of Daniyal Aziz and Talal Ch.s on talk shows, cursing and swearing their way through sham justifications.
It would be an embarrassment if the NAB and FIA dont investigate this.
Re: A big global scandal…and who is at the top?
Nooras will defend this till death lulz](http://www.paklinks.com/gs/usertag.php?do=list&action=hash&hash=lulz)
Re: A big global scandal…and who is at the top?
Doodh ki dhuli…Benazir…
This charge against Benazir does one good thing for Nawaz Sharif. It puts both Sharif and Zardari/Bhutto families into the limelight. This way they will be able to band together and protect each other, using the decades old doctrine of mutually assured destruction.
In oil-for-food shadow, Benazir Bhutto set up a firm too | The Indian Express
Former Pakistan prime minister late Benazir Bhutto, her aide Abdul Rehman Malik and nephew Hassan Ali Jaffery Bhutto set up a company, Petroline International Inc, in the British Virgin Islands in 2001. The trio were later accused of bribing the Iraqi government to bag contracts under the United Nation’s oil-for-food programme for a similarly named company Petrofine FZC, set up in Sharjah in 2000. A committee set up by the United Nations under former head of US federal reserves Paul Volker found in 2005 that Petrofine FZC paid US$ 2 million commission to the regime of Saddam Hussein to win oil contracts worth US$115-145 million. In 2006, Pakistan’s National Accountability Bureau claimed that Petroline FZC was owned by Bhutto, Malik and Ali Jaffery. Bhutto and her Pakistan Peoples Party denied the charges.
Re: A big global scandal…and who is at the top?
This could turn into something huge.
Re: A big global scandal...and who is at the top?
These offshore companies are used primarily for tax avoidance. Hamarey haan tax avoidance ke aur bahut aasaan aur ayyan tareeqay hain.
Re: A big global scandal...and who is at the top?
These offshore companies are used primarily for tax avoidance. Hamarey haan tax avoidance ke aur bahut aasaan aur ayyan tareeqay hain.
In the case of Pakistan, it is more about laundering money. The allegation on Sharifs was that they took loan write offs in the 90s, and stashed that money away in off shore banks/companies, and then claimed bankruptcy on Ittefaq foundries.
Hussain Nawaz recently claimed in an interview that these properties were bought from funds generated by his mideast steel business in 2005. However, the documents have shown that these properties have been owned by the Sharif kids since the mid 90s. That brings up a lot of questions.
Where did the money come from?
How did it leave Pakistan?
If it left Pakistan legally, surely there should be a paper trail lying somewhere with the SBP?
Re: A big global scandal...and who is at the top?
I think lot more will come out. Sheer amount of data released is huge and it will take time for news outlets to sift through the information and connect dots (often not easy to connect). Allegedly many big US banks are involved, including CITI, HSBC, BoA, etc., in money laundering for drug cartels and dictators from Africa, ME, Latin America and Russia.
Re: A big global scandal...and who is at the top?
Good going,
Expose them but i am surprised to see, no military dictators are there... Wonder why!!! Husni Mubarik allegedly had USD 70 Billion worth of assets/ cash.. Pervaiz Musharraf having a lavish life after spending all his life as a middle-class...Zardari, Gandhi Family..and lot more...i guess much have to come
Re: A big global scandal...and who is at the top?
For Nawz Sharif, it is indeed a big blow (if he has any iota of shame that is), but chances are, we will see a barrage of Daniyal Aziz and Talal Ch.s on talk shows, cursing and swearing their way through sham justifications.
It would be an embarrassment if the NAB and FIA dont investigate this.
One of Jang Group employee is a member of team of journalists who received the leaked documents, and as a result, the Sharif family was tipped off by Jang/Geo group.
So that explains why Hussain Nawaz recently decided to give a totally out of blue interview to pro PMLN journalists Hamid Mir and Javed Chaudary where he admits their offshore wealth. Preemptive damage control.
They have moles in every organisation in Pakistan.
As with investigation, nothing's going to happen. Considering the level of Jahalat and moral rot in Pakistanis....this scandal has ensured Sharif family's victory in 2018.
Pakistani people truly love and admire criminality.
Re: A big global scandal...and who is at the top?
well..Patwaris have a good media team. and a good accountant (samdhi ji Ishaq Dar) to out maneuver anyone.
but does someone still remember the Axact case? how our 'efficient' interior minister took notice of those media reports and took action. i wonder if he will take any action now.
Re: A big global scandal…and who is at the top?
What the Panama Papers disclose about Pakistan’s politicians - Home - DAWN.COM
The Panama Papers, a global investigation into the sprawling, secretive industry of offshore that the world’s rich and powerful use to hide assets and skirt rules by setting up front companies in far-flung jurisdictions has jolted the whole world.
Based on a trove of more than 11 million leaked files, the investigation exposes a cast of characters who use offshore companies to facilitate bribery, arms deals, tax evasion, financial fraud and drug trafficking.
The leak reveals a lot about politicians and notables in Pakistan.
Umar Cheema, a journalist working with The News International and a member of the ICIJ that partnered with more than 100 media organisations from 76 countries to review 11.5 million secret files that a whistleblower leaked to Süddeutsche Zeitung, reveals names of Pakistanis with offshore holdings.
Former prime minister Benazir Bhutto, her nephew Hassan Ali Jaffery and former interior minister Senator Rehman Malik are reported as the only three shareholders of a company Petroline International Inc., reports The News.
Javed Pasha, a close friend of Asif Ali Zardari, is found to have links with five offshore companies. Pasha shares the companies with some prominent businessmen of Indian origin.
Punjab Chief Minister Shahbaz Sharif’s relative Ilyas Mehraj has been mentioned as a major shareholder of a company though he firmly denies it. Another relative of the Punjab CM Samina Durrani owns three companies; the latest was opened in 2010.
Saifullah family of Lakki Marwat, which has a history of politics and business in the country, owns a record number of 34 offshore companies in the British Virgin Islands and Seychelles.
The companies are owned by Senator Osman Saifullah and his family members. The companies also own bank accounts in Hong Kong, Singapore, Ireland and lands in the United Kingdom.
Interestingly, Senator Osman Saifullah is a member of the Tax Reform Commission set up by the government to check revenue leakage, broaden the revenue base and improve tax administration.
According to documents available on the ICIJ website, the PM’s children Mariam, Hasan and Hussain “were owners or had the right to authorise transactions for several companies”.
Mariam is described as “the owner of British Virgin Islands-based firms Nielsen Enterprises Limited and Nescoll Limited, incorporated in 1994 and 1993”.
On one of the documents released by ICIJ, the address listed for Nielsen Enterprises is Saroor Palace in Jeddah, Saudi Arabia. The document, dated June 2012, describes Mariam Safdar as the ‘beneficial owner’.
According to ICIJ, “Hussain and Mariam signed a document dated June 2007 that was part of a series of transactions in which Deutsche Bank Geneva lent up to $13.8 million to Nescoll, Nielsen and another company, with their London properties as collateral.”
In July 2014, the two companies were transferred to another agent.
Hasan Nawaz Sharif is described as “the sole director of Hangon Property Holdings Limited incorporated in the British Virgin Islands in February 2007, which acquired Liberia-based firm Cascon Holdings Establishment Limited for about $11.2 million in August 2007”.
Re: A big global scandal…and who is at the top?
Pakistani interior ministry does not have jurisdiction outside of Pakistan. Btw, just b/c you have offshore company does not automatically means it was involved in something illegal. Offshore companies are used by rich and powerful in the US to doge taxes & its legal.
The 500 largest American companies hold more than $2.1 trillion in accumulated profits offshore to avoid U.S. taxes and would collectively owe an estimated $620 billion in U.S. taxes if they repatriated the funds, according to a study released on Tuesday.
Re: A big global scandal...and who is at the top?
Politicians are not businessmen, they are custodians of the public money and answerable to the public. You don't need to be a genius to figure out this all money laundering, and money trial goes back to industrial scale corruption of public money in 80s and 90s, precisely when Benezir and Sharif family entered politics.
Re: A big global scandal…and who is at the top?
It was not a firm involved in any hidden trade
There was no investment even
This was just a firm established in days of exile to trade with UN’s program
Nothing wrong
Re: A big global scandal...and who is at the top?
These offshore companies are used primarily for tax avoidance. Hamarey haan tax avoidance ke aur bahut aasaan aur ayyan tareeqay hain.
tax avoidance, money laundering and making black money white
Re: A big global scandal...and who is at the top?
In the case of Pakistan, it is more about laundering money. The allegation on Sharifs was that they took loan write offs in the 90s, and stashed that money away in off shore banks/companies, and then claimed bankruptcy on Ittefaq foundries.
Hussain Nawaz recently claimed in an interview that these properties were bought from funds generated by his mideast steel business in 2005. However, the documents have shown that these properties have been owned by the Sharif kids since the mid 90s. That brings up a lot of questions.
Where did the money come from?
How did it leave Pakistan?
If it left Pakistan legally, surely there should be a paper trail lying somewhere with the SBP?
who will investigate the matter? if the courts take up the matter, Sharif's will start playing the victim card and start allegations against the establishment. WE know of the shady dealings of the leaders of big political parties, but they'll never be punished. The very people "awaam" whose money has been looted will vote their culprits back into power next time. We Pakistanis should not take these things seriously, Nawaz Sharif is a big fish (untouchable) we can see the way small fish (Ayan Ali) has been treated by our judicial system.