Elahi sent on 14-day judicial remand

A magisterial court sent former chief minister Punjab Chaudhry Pervez Elahi on 14-day judicial remand in an alleged money laundering case after the judge observed that no incriminating material to justify the physical remand is available on record.

The Investigation Officer (IO) of the case requested for 14-day physical remand for the purpose of completing the investigation and tracing out ill-gotten assets acquired through money laundering as he was a public office holder as chief minister Punjab from 2002 to 2008, federal minister for industries from 2011 to 2013, deputy prime minister 2012 to 2013, member national assembly from 2013 to 2018, speaker Punjab assembly 2018 to 2022 and chief minister of Punjab from September 27, 2022, to January 9, 2023.

The IO implored the court that the proceeds were laundered by the accused through his front man Jibran Khan who was the CEO of M/S Agro Tractor Private Limited established in 2004 for disguising crime proceeds of corruption and bribery. Sham offshore companies were established and the ill-gotten money was transferred from Pakistan to foreign offshore companies through hawala hundi and then again invested in the companies established in Pakistan to whiten black money.

In this way, one offshore company namely Eigile Holding Limited had purchased 71 percent of shares from Agro Tractors Limited in 2005. The same company transferred the shares to General Mediterranean Holdings S.A in 2009 (an offshore company revealed in the Panama Papers scandal). Therefore, for completion of the investigation, recovery of documents, and chain of ill-gotten money which was laundered through different companies by the frontman and all the persons connected with this scam are required to be arrested in this case. So the maximum physical remand may be granted.

Elahi’s counsel Rana Intizar Hassan contended that a general type of allegation has been leveled against the accused, names of companies have been mentioned in the column of the FIR but no allegation of money laundering has been leveled. The whole story of the FIR revolves around accused Monis Elahi as well as frontman Jibran, there is no corruption allegation against the present accused in the whole FIR, there is no predicate offense mentioned in the FIR, no property has been motioned in the whole FIR which was the result of money laundering, no notice during the inquiry was given to the present accused despite the fact that he is in jail since last twenty days.

The present accused has no nexus with Agro Tractor Limited, the counsel added.

The judge observed that it means that the assets of Elahi from 2000 to 2019 have already been thrashed out by the NAB and FIA and the tenure of the present accused from 2019 to 2023 has been left in which he remained Speaker of Punjab Assembly and Chief Minister Punjab from September 27, 2022 to January 9, 2023, but no predicate offense during that period and the crime proceed has been collected before his arrest in this case.

Finally, the judge turning down the IO’s request of granting physical remand sent the accused on 14-days judicial remand with further direction to produce him on July 5, 2023 along with report under section 173 of Cr. P.C.