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PANAMA PAPER CASE

(REPORTED MONEY TRAIL)

INFLOW OF FUNDS ACCOUNTS USED OUTFLOW OF FUNDS


Direct Contact of NS

2 5 6

2a 5a
Fake
FakeAccts OldAccts
Accts/ Old Accts $ 150,000 Hans Rudolf Wagmuller
(Habib Bank AG Zurich, Lhr) 6 Jan 93 LEGEND
26 Aug 1992 $ 200,000

2b
1992-94 $ 105,000 Banque Poribasen-suisse, Zurich Ascertained
Sulman Zia 1993 3 Jan 93 1993 Shamrock Consulting Corporation 3 Feb 93 Unascertained
$ 700,000 1993
Hollandi Bank KSA (Traveller Cheque) A/C: 202120-106561 $ 95,000 London
Acct in Lloyds Bank $ 150,000
10 Oct 92 1 Feb 93
$ 550,000 Regd date: 15 May 92 Banque Poribasen-suisse, Zurich

$ 3,900
Traveller Cheque 26 Feb 93
$ 750,000 1992-93 Muhammad Ramzan Total Auth Capital: $ 50,000

$ 1900
10 Oct 92

$ 8,114
Traveller Cheque A/C: 202-120106578 $ 350,000 $ 350,000

2d
19 Oct 92

6a
1992-93 Star Trading and Marine In Corporation
$ 750,000 $ 62,610
Asghar Ali Washinghton DC, USA
$ 106,298 Traveller Cheque 27 Jun 93
A/C: 202-120106585 Owner: Sheikh Saeed
Amarican Express NY (US) National Bank of Abu Dhabi
3 Jan 93 19 Oct 92 $ 74,928 $ 150,000 Khedivial Mail Line Agency, UK
FTT (28 Apr 92) Attia Kayani 2 Dec 93
$ 149,908 $ 200,000 A/C: 202120-101258
Union Bank Switzerland UBS Zurich Traveller Cheque $ 112,350 Nielsen Enterprises Ltd Nescoll Ltd
Imran R Khan Nielsen Enterprises Ltd
6 Jan 93 23 May 93 Cash (21 Mar 92) $ 750,000 (beneficiary owner Mariam Nawaz) (beneficiary owner Mariam Nawaz)
American Express Bank, London Benificial Owner - Mariam Safdar
26 Oct 94

$ 75,000
$ 94,909 $ 59,995 Marium Begum Kayani A/C: 2115948 Coy Type - Offshore Coy regd in
$ 62,477 A/C: 202120-101265 BVI
Union Bank, Switzerland Zurich TC (30 Jun 92) $ 750,000
Swiss Banking Corporation Coy No. - IBC 114856

$ 750,000
30 Jan 93 24 Oct 94 Steve
22 Sep 93 $ 199,995 Regn Date - 14 Apr 94
Javed Kayani American Express Bank, London
Auth Capital - $ 50,000

1
TC (24 Aug 92) 1992-94 A/C: QX321498
$ 100,000 Total A/C: 202120101226 $ 941,590 Dir - Minerva Offr Ltd &

243,630
Traveller Cheque $ 1,562,477 $ 42,995 15 Nov 94 Minerva Corporate offr ltd

$
4 May 93 TC (4 May 93) 14-10-2011 Loan Acct - Deutsche Bank

3a
Total Amount Deposited

1a
US $ 6,582,183 (MN) Geneva
$ 100,000 $ 23,995

3
Traveller Cheque TC (4 Jul 93)

$ 550,000
17 May 93 Nescoll Ltd
$ 256,302

6b
$ 100,000 Benificial Owner - Mariam Safdar
TC (14 Jun 94)
$ 62,000 Cash Deposit Javed Kiyani Coy Type - Offshore Coy regd in
Fake Accts Old Accts BVI
21 Jan 93
Cash Deposit Total
Benamidar FCAs Mian Muhammad Purchased by Mr Urs Specker Coy No. - IBC 77606

1c 1b
27 Jun 93 $ 770,560
$ 749,985 1993-94 Nawaz Sharif (GM Ansbecher Switzerland) Regn Date
Auth Capital
- 27 Jan 93
- $ 50,000
Foreign Telegraphic Transfer (FTT) Kashif Masood Qazi
$ 79,924 1992 Dir - Minerva Offr Ltd &
Habib Bank AG Zurich Switzerland 12 Oct 94 Bank of America, Lhr
Corporate offr ltd

$ 500,000
22 Jul 93 A/C 6214260133-091
Total Loan Acct - Deutsche Bank
Naeem Mehmood Ishaq Dar

3b

$ 600,000
$ 849,985 Mrs Nuzhat Gohar Qazi Geneva
$ 200,000 Properties Purchased
Bank of America, Lhr $ 432,148

3c
DBC
3 Sep 93 1992-94 Oct - Dec 95
17 Avenfield House Park Lane 16 Avenfield House Park Lane

4
$ 150,000 Sikindra Masood Qazi Shamrock Consulting Coop
London WI London WI
Total Foreign Telegraphic Transfer (FTT) Bank of America, Lhr Benificial Owner - Nawaz Sharif
(Purchased on 1 Jun 93) (Purchased on 31 Jul 95)
$ 2,343,039 Coy Type - Offshore Coy regd in
2 Jul 92 $ 1,752,000
Talat Masood Qazi BVI
TC (Aug 92)

$ 1,223,819
$ 77,183 17A Avenfield House Park Lane 16A Avenfield House Park Lane Coy No. - IBC 62389
Bank of America, Lhr Hudabiya Engineering Pvt Ltd
Foreign Telegraphic Transfer (FTT) London WI London WI Regn Date - 15 May 92

$ 500,000
2c
$ 1,403,697 Hudabiya Paper Mills Ltd (Purchased on 23 Jul 96) (Purchased on 31 Jul 95) Auth Capital - $ 50,000
3 Apr 93

$ 280,000

$ 972,373
FEBC (Oct 92)
Mrs Sara Sheikh
$ 1,050,000 NY, USA Chaudhry Sugar Mills Ltd Total Cost: $ 5 Mn
$ 1,000,000 $ 239,290
Travellar Cheque
FTT (11 Nov 93) Hamza Board Mills Ltd Sep 95
Jan-Feb 94
$ 750,000 1992-93 Mussa Ghani
Dibb Lupton Broomhead (Pay utility bills & council rates of these properties

7
Travellar Cheque Total Al Towfeek Bank, Lhr Hajveri Holdings Ltd
Total
10 Oct 92 $ 1,277,183 Bank of America, Lhr
$ 4,155,697 First Hajveri Modaraba Ltd

3d
Emirates Bank, Lhr

$ 1,162,000
$ 500,000

$ 1,453,330
Travellar Cheque $ 1,023,452 Hudabiya Paper Mill Ltd Hudabiya Engineering Pvt Ltd
19 Oct 92 Cash Deposit
1995
Saeed Ahmed Share Holders Share Holders
9 Jan 95 Hussain Nawaz Hussain Nawaz

$ 3,532,947
$ 243,630 $ 200,000
Cash Deposit
1995 Bank of America, Lhr Mrs Kulsoom Nawaz Mrs Kulsoom Nawaz
Foreign Telegraphic Transfer (FTT) $ 1,680,351 1998
8 Feb 93 Al-Baraka Islamic Bank, Lhr Hassan Nawaz Hassan Nawaz
23 Sep 91 FX Payment
Emirates Bank, Lhr Mariam Safdar Mariam Safdar

3e
5 Oct 95 1991-92 Asma Nawaz Asma Nawaz
$ 200,000 Al-Towfeek Bank, Lhr Total Share Advance Money
$ 582,000 Total Share Advance Money
Traveller Cheque Atlas Bot Bank, Lhr Mrs Shamim Akhtar Mrs Shamim Akhtar

4a
Foreign Telegraphic Transfer (FTT)
National Bank of Abu Dhabi Mian Shehbaz Sharif Mian Shehbaz Sharif
1 Oct 91
23 May 93
$ 300,000 1995 1995
$ 62,477 $ 95,231
Foreign Exch Bearer Cert
Cash Deposit Mukhtar Hussain 1993
Swiss Bank Corporation 12 May 92 1992 Al Faysal Investment Bank Sheikh Zaka-ud-Din Saddiqa Syed Mohfooz Mashim Khadim Sheikh Zaka-ud-Din
1 Oct 91 Bank of America, Lhr
22 Sep 93 Accounts Mrs Nuzhat Gohar Qazi Equity injected through conversion of (Middle East) Equity injected through conversion of $
$ 200,000
$ 861,102 Transferred Talat Masood Qazi $ 0.56 mn in the name of Sheikh Equity of $ 6.67 mn in Rupees were 2.2 mn in the name of Sheikh Zaka ud
$ 150,000 FTT Kashif Masood Qazi Zaka ud din transferred to Hudabiya paper Mills using din
Cash Deposit Foreign Telegraphic Transfer (FTT)
20 Jun 92 name of Saddiqa as "Share Deposit Money"
2 Dec 93 10 Mar 92
Total Amount Deposited City Bank Ltd, Lhr
Total Total Total US $ 11,225,001 Sikindra Masood Qazi
$ 1,906,107 $ 1,077,231 $ 1,161,102

CHORONOLOGY OF EVENTS

Javed Kiyani a trusted friend and front man of Mian Muhammad Javed Kiyani opened 3x Fake accounts in the names of Ishaq Dar opened 2 x Benamidar FCA in the names of Sikindra
Nawaz Sharif having close relations with bank authorities assisted Sulman Zia, Muhammad Ramzan and Asghar Ali (account Masood Qazi & Talat Masood Qazi in BoA, Lhr who were NRP/
MNS in opening and remitting into fake foreign currency accounts opening forms at Appendix II) in Habib Bank AG Zurich, Lhr UK) on direct instructions of Mian Muhammad Nawaz Sharif.
During the same period, 2x Benamidar FCA were opened by Against these Benami FCAs credit lines (loans) worth Rs 300 Mn Amount worth $ 350,000 was transferred from Sulman Zia FCA to Hans Rudolf Wegmuller (probably direct contact of NS) registered In 1998, equity of $ 6.67 mn in Rupees were transferred to
and to further utilize foreign exchange available as collateral for on 26 Aug 92, while maintaining old accounts of Attia Kiyani, Shamrock Consulting Corporation (offshore company) in British Hudabiya Paper Mills through Saddiqa Syed Mohfooz Mashim
Naeem Mahmood in the names of Kashif Masood Qazi and Nuzat for Hudabiya Engineering Mill, Hudabiya Paper Mill, Chaudhry Shamrock Consulting Corporation London (presumably owned by
loans to create new industrial units for Sharifs family Begum Marium Kiyani (wife/ mother) & his own (Javed Gohar Qazi in same bank during 1992; details attached at Sugar Mills, Hamza Board Mills, Hajveri Holdings and First Hajveri NS) having account in Llyod Bank London in 3x different Virgin Islands (BVI), having auth capital of $ 50,000 on 15 May 92. Khadim (resident of Middle East) as "Share Deposit Money
Ishaq Dar submitted an affidavit under an Oath for the money Kiyani) in same bank. Complete documentation for opening Appendix-VIII). These FCAs were opened/ operated by Ishaq Dar Modaraba were acquired from multiple local bank accounts during transactions (evidence attached at Appendix XIX) Funds amounting $ 350,000 were transferred from Shamrock (Evidence attached at Appendix XXI)
laundering carried out by him through Benami Accts for the of accounts was done by Javed Kiyani himself verified & Naeem Mehmood in the name of Qazi family under the year 1993 (documentation evidence is attached at Appendix-XVI) During 1993-95, cash amounting $ 62,610 was transferred from Consulting Corporation to Mr Hans Rudolf Wegmuller account in Remaining money amounting Rs 6.9 mn were directly transferred

1 2 3 4 5 6 7
Sharif Family. ID completed his accountancy from Institute of through the report of handwriting expert (report attached at instructions of NS and were to be used for transfer of foreign In last quarter of 1993 Bank of America (BoA) faced credit ceiling Sulman Zia account to Star Trading & Marine in Corporation Banque Poribasen-suisse Zurich, 2x different transactions in Feb in the account of Hudabiya Paper Mills Ltd in garb of investment
Chartered Accountants in Wales, London UK. During his education Appendix-III) currency funds of Mian Muhammad Nawaz Sharif abroad (for problem, it arranged transfer of these credit facilities/ collateral Washington DC, USA (owned by Sheikh Saeed- a UK National and 93 from Qazi family account (Evidence attached at Appendix XXII)
he stayed with Masood Ahmed Qazi and his family and became During 1992 Javed Kiyani started transferring money from purchase of offshore companies/ properties). 2x previously opened (FCAs operated by ID & Naeem Mehmood) to Al-Faysal Investment close friend of Ishaq Dar), amount worth $ 150,000 transferred from Nescoll Ltd & Nielsen Enterprises (presumably owned by Mariam
friends. ID came back to Pakistan and worked his way through abroad (different accounts) into Benami FCAs opened in FCAs of Mr Saeed (former director of Modabra Company) & Musa Bank & Citi Bank with the consent of Sharif family (documented Asghar Ali account to Khedivial Mail Line Agency, UK. Amount Nawaz) were registered as off-shore companies in BVI through
different jobs and businesses; was batch mate of Nawaz Sharif in Habib Bank AG Zurich, Lhr in the form of Foreign Ghani (nephew of wife of Ishaq Dar) were also used for same evidence is at Appendix XVII) worth $ 750,000 each transferred from Kashif Masood Qazi and Hans Rudolf Wegmuller on 27 Jan 93 & 14 Apr 94, respectively
Govt College Lhr. ID after working with various companies started Telegraphic Transfer (FTT), Dollar Bearer Certificates (DBC) purpose. Various FCAs in different banks 10 & 12 Nov 94, PPP Govt lodged FIR #12/94 against Benami Mrs Nuzat Gohar Qazi account to Imran R Khan (American Express 4x luxury flats (16, 16a, 17 & 17a Avenfield house park lane,
Evidence of transactions in Kashif Masood Qazi account done FCAs of Sharif family and FIR #13/94 against Hudabiya Paper Mills Bank, London) and amount worth $ 941,590 from Sikindra Qazi, $ London) were purchased by Nescoll and Nielson Ltd during period
his own Modaraba Company in year 1991 with the name of First & Traveller Cheques (TC) on instructions of Mian during the period 1993-94 is attached at Appendix-IX owned by Sharif family (FIRs attached at Appendix XVIII) 432,148 from Mussa Ghani and $ 239,290 from Saeed Ahmed 1993 to 1996 ,through real estate Qatar. AED 12 mn ($ 4.52 Mn)
Hajveri Modaraba Company with a capital of Rs 150 Mn and was Muhammad Nawaz Sharif. Evidence of transactions worth $ Evidence of transactions in Nuzhat Gohar Qazi account done account was transferred to Steve (American Express Bank, were tfr to Al-Thani gp same year
successful in attracting business groups like Sharif Group, 2,343,038 in Sulman Zia account done during the period during the period 1992-94 is attached at Appendix-X London) and transaction of $ 243,630; from account of Asghar Ali to
Crescent Group, Sehgal Group and PEL. In his confessional 1992-94 is attached at Appendix-IV. Multiple interbank Evidence of transactions in Sikindra Masood Qazi account done Sara Sheikh (daughter of Saeed Sheikh) New York, USA;
statement he admitted that he had been handling the money transfers of large amount was carried out in order to create a during the period 1992-94 is attached at Appendix-XI Evidences attached at Appendix XX
matters of the Sharif family and also alleged that Mian Nawaz cloud cover to hide the money trail Evidence of transactions in Talat Masood Qazi account done
Sharif and Mian Shahbaz Sharif were involved in money Evidence of transactions worth $ 1,562,477 in Muhammad during the period 1992-94 is attached at Appendix-XII
laundering worth at least $ 14.886 Mn. (Ishaq Dar Affidavit Ramzan account done during the period 1992-93 is attached Evidence of transactions in Musa Ghani account done during the
attached at Appendix I) at Appendix-V period 1992-93 is attached at Appendix-XIII
Naeem Mehmood then Director of Modarba Company agreed to Evidence of transactions in Saeed Ahmed accounts (Al-Baraka
Evidence of transactions worth $ 1,906,107 in Asghar Ali
Islamic Bank, Emirates Bank, Bank of America and Al-Towfeek
open Benamidar accounts in Habib Bank AG Zurich, Lhr during account done during the period 1992-93 is attached at Bank) is attached at Appendix-XIV
1992 on directions of Ishaq Dar Appendix-VI Evidence of transactions in Mukhtar Hussain account done during
Evidence of transactions worth $ 770,560 in Javed Kiyani 1992 is attached at Appendix-XV
account done during the period 1992-94 is attached at
Appendix-VII