Maryam’s association with offshore firms a mystery

JIT head says team could not investigate prior ownership of Nielson, Nescoll

ISLAMABAD: Joint Investigation Team (JIT) Head Wajid Zia admitted on Friday that there was no evidence pointing towards Maryam Nawaz’s involvement in the incorporation of Nielson and Nescoll offshore companies.

The accountability court presided by Judge Mohammad Bashir resumed hearing in the corruption references filed by the National Accountability Bureau (NAB) against the Sharif family.

Former prime minister Nawaz Sharif and his daughter were exempted from appearing before the court due to security concerns.

However, Captain (retired) Safdar appeared in the court.

Counsel for Maryam and Safdar, Amjad Pervaiz, began the twelfth cross-examination session of the JIT head, inquiring about the owner of the Avenfield properties before it came under the possession of Nielson and Nescoll.

Zia replied that the team had not investigated prior ownership before its transfer to the two companies.

Pervaiz questioned Zia over a letter exchanged between Salman Akram Raja advocate and Lawrence Radley pertaining to the Avenfield Apartments in which Radley had confirmed that he acted on behalf of the purchasers of the property in or around 1993 to 1996.

He recalled that the apartments were purchased through two British Virgin Islands (BVI) companies -- Nielson and Nescoll -- and the instructions to purchase the properties were not dictated by any member of the Sharif family.

Zia stated that the JIT had decided to not associate Radley. He voluntarily gave the letter that clearly stated the properties were purchased through BVI companies.

The JIT head said that Radley informed him that the purchase through the offshore companies is to maintain anonymity of the purchasers; hence it was meaningless for the JIT.

“Was the reasoning behind its non-inclusion included in the JIT?” asked Pervaiz.

Zia admitted that it was correct. “It is true that the JIT has also not mentioned Radley’s letter in the report nor appended,” Zia added.

Subsequently, the defence counsel suggested to Zia that the JIT did not associate Radley’s letter because it would have proved that none of the members of the Sharif family had any concern with the purchase of the said properties.

In response to this suggestion, Zia said that it was incorrect.

He inquired whether any evidence collected by the JIT proved Maryam’s involvement in the incorporation of the two companies. Zia voluntarily explained that there was a certification by BVI authorities of the correspondence between Financial Investigation Agency of BVI (FIA BVI) and law firm Mossack Fonseca, and Maryam’s link with Minerva Financial Services Limited, which was documented through a letter dated December 5, 2005.

The properties were owned by share-bearers at the time of incorporation.

“Does the record show Maryam’s role in the incorporation of the companies?” Pervaiz enquired.

“No, it does not show any involvement from Maryam,” answered Zia.

He further conceded that neither any witness nor any accused offered any information to the JIT.

“Similarly the letter, dated December 5, 2005, referred in previous questions does not have anything to do with the incorporation of the two companies.”

When Pervaiz persisted if the JIT collected records of the two BVI companies, Zia said the JIT could not gather records pertaining to the incorporation of Nielson and Nescoll.