Shehbaz sent on 14-day judicial remand in assets beyond means case

Court rejects NAB's request for extension in physical remand

LAHORE:

An accountability court on Tuesday sent PML-N President Shehbaz Sharif on a 14-day judicial remand in the money laundering and assets beyond means case.

NAB arrested the PML-N leader last month after the Lahore High Court (LHC) dismissed a petition seeking extension in his bail. He was then given into NAB custody on a 14-day physical remand.

For today's appearance in court, Shehbaz was presented before the judge in Lahore amid heightened security. The accountability watchdog requested the court for an extension in Shehbaz’s physical remand, but the court rejected the request.

Case history

According to the anti-graft body, Shehbaz laundered billions of rupees from various anonymous accounts through his front men, employees and money changers.

NAB said Shehbaz’s assets in 1990 were worth Rs2.1 million whereas his assets and those of his children were worth Rs18 million in 1998.

Shehbaz and his sons set up nine business units from 2008 to 2018. An inquiry was launched against Shehbaz after receiving a complaint from the State Bank of Pakistan’s (SBP) Financial Monitoring Unit.