StAR - Stolen Asset Recovery Initiative - Corruption Cases - Nawaz Sharif

10/18/12 1:37 AM

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Nawaz Sharif
Case Control Number: Description : 147

According to Pak Tribune account of a paper released by the Pakistan Muslim League (PML), the PML accused Mr. Nawaz Sharif that while he was Prime Minister, engaged in embezzlement and money laundering. It was alleged that Mr. Sharif personally and through members of his family and political associates directed $60 million in highway contracts to companies owned by himself or associates, secured $140 million in unsecured loans from Pakistan's state banks on behalf of companies owned by himself or associates, directed $60 million in government rebates on sugar exported by mills controlled by Mr. Sharif and his associates, and directed $58 million from inflated prices paid for imported wheat from the U.S. and Canada to his or associates various entities. During his time in office Mr. Sharif was also alleged to have been materially associated with Nescoll, Nielson and Shamrock registered in the British Virgin Islands (BVI) and Chandron Jersey Pvt. Ltd registered in the Channel Islands.

Type of Illicit activity involving Public Official :

Embezzlement

Impediments to investigation:

Unk

Most recent legal action against Public Official?: Other legal action/ other prosecutions:

Unk

Region: Country of Public Official: Sources:

SAR Pakistan "PML fact sheet terms Sharif 'failed politician'." PakTribune, Feb. 13, 2008, accessed at http://www.paktribune.com/news/print.php?id=197340 Baker, Ramond W. Capitalism's Achilles Heel (John Wiley & Sons, 2005), at 83 "Pak court summons Sharif in corruption case." Rediff News, Oct. 19, 2007, accessed at http://in.rediff.com/news/2007/oct/19sharif.htm Prime Minister Unk Art. 17 Art. 23 Yes

Position of Public Official during scheme: Is there a pending case or appeals?: UNCAC Articles(s) Implicated:

Money laundering Implicated?:

http://star.worldbank.org/corruption-cases/node/18735

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StAR - Stolen Asset Recovery Initiative - Corruption Cases - Nawaz Sharif

10/18/12 1:37 AM

Year scheme began: Corporate Vihecles Used Nescoll Nielson Shamrock Chandron Jersey Pvt. Ltd.

1990

http://star.worldbank.org/corruption-cases/node/18735

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