Panama scandal: Pervaiz, Moonis face new corruption case

The Panama Papers scandal has taken a dramatic turn as the companies of Pakistan Tehreek-e-Insaf (PTI) President Chaudhry Pervaiz Elahi and his son, Moonis Elahi, have been implicated in the controversy, Express News reported.

The revelation has prompted the Federal Investigation Authority (FIA) to initiate a case against the former Punjab chief minister, with his arrest expected in the near future.

The case against Pervaiz and Moonis includes charges of fraud, money laundering, and corruption. It is alleged that the father-son duo concealed billions of rupees in five Panama-based companies, with Pervaiz Elahi using apparent money laundering techniques to acquire these companies.

Substantial evidence of illegal fund transfers from Pakistan to offshore accounts has also been uncovered by FIA.

Moonis Elahi, who served as a member of the National and Punjab assemblies from 2004 to 2023, is accused of engaging in corruption through his frontman, Jabran Khan. He allegedly used his position to carry out corruption and money laundering activities, with the assistance of his father.

Over the past two decades, Pervaiz Elahi has held significant positions in the Punjab and National assemblies, making these allegations all the more significant. Meanwhile, Moonis Elahi stands accused of money laundering, which he allegedly acquired through corruption and kickbacks.

Also read: Court approves Elahi's bail in illegal appointments case

According to the First Information Report (FIR) filed by the FIA, Moonis transferred funds abroad through various offshore and shell companies, further deepening the investigation into his financial activities.

In response to the serious allegations, the FIA has decided to issue a red notice against Moonis Elahi, a measure aimed at facilitating his apprehension and extradition. Meanwhile, authorities will continue their probe into the matter to uncover further details surrounding the case.

It is worth noting that Moonis Elahi is already evading authorities and is reportedly on the run from the country, fearing the ongoing investigations against him.

The Panama Papers scandal, which came to light in 2016, exposed the global extent of tax evasion and money laundering through offshore accounts. Since then, it has had far-reaching consequences for politicians, business leaders, and public figures worldwide. Its impact in Pakistan has been no less significant, shaking the foundations of power and accountability within the country's political landscape.