JIT Panama Papers Case Decision Report (Pakistan)

Panama case JIT submits final probe report in apex court on 10 July 2017.

#GameOverNawaz ??? The Panama Papers case (officially titled Imran Ahmed Khan Niazi v. Mian Muhammad Nawaz Sharif) or the Panama gate case is an ongoing case before the Supreme Court of Pakistan. The case was brought to court by Pakistan Tehreek-e-Insaf leader Imran Khan alleging money laundering, corruption, and contradictory statements by Nawaz Sharif, the incumbent Prime Minister of Pakistan, after the Panama Papers leak uncovered links between Sharif's family and eight offshore companies. The case has been described as the most publicized in Pakistan's history, as well as a "defining moment" for the country.

The Supreme Court announced on 20 April 2017 that a Joint Investigation Team(JIT) has to be formed to probe the Sharif family's involvement in corruption as stated in the Panama leaks.

Petitioner's case

The PTI's case was re litigated entirely by Bokhari, alongside Maleeka Bokhari and Akbar Hussain. Bokhari referred to interviews by different members of the Sharif family, highlighting that each took divergent stands over the ownership of the London properties. He argued that the Sharif family had failed to present any record regarding banking transactions, or refer to trust deeds or the Qatari connection earlier. He maintained that Maryam Nawaz had declared her taxable income as zero in tax returns, and remained a dependent on her father. He added that Hussain Nawaz gifted Rs. 810 million to his father, without any of it being taxed.

JIT Report and Recommendations

On 10 July 2017, JIT submitted a 254 pages report in apex court. The report requested NAB to file a reference against Sharif, his daughter Maryam, and his sons under section 9 of National Accountability Ordinance. JIT noted that Sharif his sons and daughter Mariyam Nawaz were not able to justify their income and assets, adding that Maryam Nawaz has been proved the beneficial owner of Nielsen and Nescoll.

The JIT members have been given the authority to engage and associate local and/or foreign experts to facilitate the investigation of Sharif family's offshore assets. The team also has been given all powers granted by laws relating to investigation, including those available in the Code of Criminal Procedure, 1898, National Accountability Bureau Ordinance, 1999 and the Federal Investigation Agency Act, 1975. The directives also say that since the JIT, in essence and substance, is acting on the directions of the Supreme Court of Pakistan, all executive authorities across Pakistan must assist and cooperate with the team.

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Panama Papers leak

The International Consortium of Investigative Journalists made 11.5 million secret documents, to be known as the Panama Papers, available to the public on 3 April 2016. The documents, sourced from Panamanian law firm Mossack Fonseca, included details of eight offshore companies with links to the family of Nawaz Sharif, the incumbent Prime Minister of Pakistan, and his brother Shehbaz Sharif, the incumbent Chief Minister of Punjab. According to the ICIJ, Sharif's children Maryam, Hassan and Hussain “were owners or had the right to authorise transactions for several companies”. Mossack Fonseca records tied the children to four offshore companies, Nescoll Limited, Nielson Holdings Limited, Coomber Group Inc., and Hangon Property Holdings Limited. The companies acquired luxury real estate in London from 2006 to 2007.