Money laundering case: Court reserves verdict on bail plea of PM, CM

Lahore: The Special Court on Saturday reserved its verdict on an application of Prime Minister Shahbaz Sharif and his son Chief Minister Hamza Shahbaz seeking confirmation of bail in a case involving money laundering worth Rs16 billion. 

According to details, the money laundering case was being heard in the Special Central Court Lahore. 

The Premier and Punjab Chief Minister applied for an extension in the bail plea and the judge of the reserved the verdict after arguments from the prosecutor and the suspects concluded. 

During the hearing, Prime Minister Shahbaz Sharif came to the rostrum and stated that serious charges have been leveled against him and he is facing dozens of cases while the Federal Investigation Agency (FIA) ​​delayed the challan to find a way to detain him.  

The court, however, inquired whether the ​​FIA need the arrest of the accused, to which the ​​prosecutor said that the further role of the accused has yet to be proved.   

Counsel of the Pakistan Muslim League-Nawaz (PML-N) leaders opposed FIA plea and argued the Pakistan Tehreek-e-Insaf (PTI) led government had filed the case with mala fide intent to target political opponents.

The special court resumed its hearing of the multi-billion rupee money laundering case against Shehbaz Sharif, his son Hamza Shahbaz and others today. 

The special court had on January 27 granted pre-arrest bail to Shehbaz and Hamza in the case. 

They were booked by FIA in November 2020 under Sections 419, 420, 468, 471, 34 and 109 of the Pakistan Penal Code (PPC) and 5(2) and 5(3) of the Prevention of Corruption Act and r/w 3/4 of Anti Money Laundering Act. 

Fourteen others had also been named in the FIR under sections 5(2) and 5(3) (criminal misconduct) of the Prevention of Corruption Act.

It is pertinent to mention here that the co-accused of a multi-billion money laundering case Malik Maqsood Chaprasi passed away on Thursday.