Panama Leaks - Episode 2

  • by Umar Cheema

    Imran’s financier, Benazir’s cousin, Zardari’s and Altaf’s close friend, Seth Abid’s son, retired admiral’s son, former MD of Port Qasim Authority and mother of Oscar Award winner Sharmeen Chinoy figure in the list; more names to appear after thorough investigations

    ISLAMABAD: As the much-awaited list of Pakistanis owning offshore companies is released today, the close associates of politicians and families of celebrities are set to capture more attention than the businessmen including those who registered companies only to open accounts in Swiss banks.

    Identities of some of the high-profile figures suspected to be linked with offshore companies are still being ascertained and will therefore be published after a complete investigation.

    The list to be released by The News will be the most comprehensive as painstaking efforts were made to find the last Pakistani buried in the 11.5 million files of the Panama Papers shared by the International Consortium of Investigative Journalists (ICIJ). Nevertheless, it can’t be claimed with confidence that all of them have been fished out.

    Right from the family of Zulfi Bokhari, a key financier of Imran Khan, to Irfan Puri, an oil czar equally close to the PPP/MQM leadership and presently in Dubai jail; from Tariq Islam, a cousin of Benazir Bhutto, to the son of former health minister Naseer Khan; from the family of famous Seth Abid to the son of Admiral (retd) Muzaffar Hassan; and from the Port Qasim Authority’s former MD and NRO beneficiary Abdul Sattar Dero to the former president of Karachi chamber of commerce, Shaukat Ahmed, are in the list.

    Mother of Oscar award winner, Sharmeen Obaid-Chinoy; a billionaire owner of Sachal studio Izzat Majeed; wife of Ghous Akbar; and fashion designer Zehra Valliani along with her brother, an asset manager, Fawaz Valliani have also been identified as owners of offshore companies.

    Wamiq Zuberi of the Business Recorder and his wife, former PPP senator Rukhsana Zuberi, have been identified among those invested in an offshore company, a fact Wamiq acknowledged. He explained that they stopped investing after being defrauded and that the company was owned by somebody else who was murdered in Islamabad.

    Although Abdul Aleem Khan of the PTI has been claiming with confidence that he didn’t figure in the Panama Papers and The News story about his offshore company was based on his assets declarations, his name is very much in the record.

    As far as Sayed Zulfikar Abbas Bokhari (Zulfi Bokhari) is concerned, he has been identified in connection with the offshore companies he own along with his two sisters. There are six companies owned by Zulfi family: K-Factor Limited, Bradbury Resources Ltd, Bayteck Limited, Bayla Trading Limited, Poreim Trading Limited and Ganstam Trading Limited. They could have gone unnoticed had one of his sisters not given address of Islamabad. Probe indicates the house is owned by Zulfi family. Address in London is of Zulfi’s house. Wajid Bokhari, Zulfi’s father, was caretaker minister in the interim setup installed for holding 2008 elections. One of his uncles is sitting PTI MPA from Attock.

    Questions were sent to his father for passing them onward to those named in the record. No word has been received as yet.

    Ownership of three companies have been identified in connection with Irfan Iqbal Puri, a notorious businessman enjoying equally good relations with Asif Ali Zardari and Altaf Hussain. This oil czar had been openly claiming as business partner of Zardari during the last government of the PPP and held tremendous influence over the working of Pakistan State Oil. In 2004, the NAB filed references against him on the charges of corruption in the PSO. The NAB later entered into a plea bargain but didn’t pay the committed amount. Securities and Exchange Commission of Pakistan had also investigated him.

    At one point, he was a business partner of a former powerful PPP minister. Later, he forged good relations with the MQM chief and reportedly submitted one million pound surety bond for Altaf Hussuain’s bail. Together with his son, Irfan is shareholder of the following companies registered in the British Virgin Islands: IP Commodities Limited, IP Global Limited and Pure Palm Oil Limited.

    Link Investments Limited, a company registered in Bahamas, identified Tariq Islam, cousin of Benazir Bhutto, as its owner. As The News contacted for his version, he flatly denied even before getting to know the names of the company.

    Former health minister of Shaukat Aziz government, Naseer Khan, has his family members owning an offshore company, Atwood Investments Limited. His son (Muhammad Jibran) and brother (Zaffarullah Khan) have been identified as shareholders among others. The News sent questions to his brother but didn’t hear back.

    Sajid Mahmood, son of famous Seth Abid of Lahore, is owner of Mossgreen Limited, an offshore company registered in British Virgin Islands only last year. Other shareholders of the company are: Akbar Mahmood, Ajaz Mahmood and Bushra Ajaz. The family owns more than 30 companies in Pakistan under the banner of Abid Group.

    Destiny Investment Development Limited and Simkins International Limited are two offshore companies owned by an NRO beneficiary and former MD Port Qasim Authority, Abdul Sattar Dero. He is considered very close to Zardari family and look after some businesses in UAE. Among the co-owners of these offshore companies are Zahida Dero, Fahad Sattar Dero and Fawad Sattar Dero. A London-based company: Stevenage Investments Ltd (Russel Bedford House, City Forum, 250 City Road, London, EC1V 2QQ) is also shareholder of the above-mentioned offshore companies of Dero. Who owns Stevenage Investments Ltd remains to be checked. Accounts at foreign banks have also been opened through these offshore companies.

    Former president of Karachi chamber, Shaukat Ahmed, has been identified as the owner of Global Link Properties Inc., registered in Seychelles. Among other shareholders are his son, Imran Shaukat and daughter-in-law. Imran is also one of three shareholders in yet another company, Emirates International Holdings Limited, along with Rashid Bashir and Khurshid Ahmed Sheikh.

    Saba Obaid, mother of Oscar-award winning Sharmeen Obaid-Chinoy, has been identified in connection with three companies: Fabrics International Services Limited, Belize Group Limited and Bella Holding Group Limited.

    About the first company, a document indicates that it was set up to “receive commission from a toweling/fabric factory in Pakistan. The company is the authorised agent as far as Pakistan export regulations are concerned and is able to receive commission on exports of goods upto maximum of 7 percent of export consignments.” Source of funds has been described as “personal savings.”

    Towellers Limited is the Karachi-based company owned by Saba Obaid and Sharmeen Obaid Chinoy, among others. About Towellers Limited, a letter reads: “This company was a huge exporter of textiles mainly to the USA to Walmart amongst others.”

    Belize Group Limited, another offshore company owned by Chinoy family, owns two properties in New York’s Trump Tower of Donald Trump and are used for rental income. Bella Holding Group Limited of Chinoy family has been used for purchasing a residential property in New York. The News sent questions to Saba Obaid. They were never replied. Repeated efforts to reach through phone also went in vain.

    Nativus Resources Limited of British Virgin Islands identifies its beneficial owner, Izzat Majeed, a dual national with business stakes in Pakistan. A document indicates that the offshore company’s wealth will be generated from the business conducted in Pakistan. He is a founder of Sachal Studios Orchestra in Pakistan.

    Nabila-Matrix Limited, an offshore company of British Virgin Islands, identifies its shareholders as Azfar Hassan (a Lahore-based businessman and son of Admiral (R) Muzaffar Hassan) and Nadeem Iqbal Saigol.

    Mehreen Akbar, the wife of Ghous Akbar, has been identified as a shareholder of four companies created for holding properties in UK. Other shareholders are her sisters, Irum and Mahim whereas bearer share certificates have also been issued in the name of AKB Privatebank Zurich AG, Switzerland that is also custodian of the companies accounting record. Mark Investment Limited, IMM Gulf Limited, Indigo Properties Limited and Zarmay Investments Ltd are their companies registered in Republic of Seychelles.

    Ghous Akbar told The News that he had nothing to do with the companies operated by his in-laws. Mehreen, his wife who also features in different fashion shows, also disassociated herself. Responding to The News through email, she said she didn’t purchase either shares or the properties. “I can only assume that my one third share may be passed if I choose to accept my inheritance by way of succession and inheritance after our parents.”

    Owners of Olympia International, Munir Monnoo and his son, Humayun, set up a company, Clifton Holdings Services Incorporated in Panama. Purpose of setting up the company has been described as “holding a bank account in Switzerland.”

    Valliani family has been identified in connection with four companies: European American, Investments Limited, Polenta Capital, Ikogenia Trust and Emirates Commerce Limited. Fawaz Valliani (CEO of Elixir Securities), Zehra Valliani (a fashion and jewellery designer in Islamabad) and their mother, Sameena Valliani.

    Upon inquiry, Zehra said Fawaz (her brother) might have formed the companies without her consent and that of her mother. Zehra said she was not in speaking terms with him for last 10 years. When told that all of the companies were set up well before 10 years and in cases her passport was also found along with written notes of her mother, she completely disowned. Fawaz didn’t reply to questions emailed to him.

    Courtesy: The News

  • May be Ms. Shermain Obaid-Chinoy will produce a documentary about ills of Off-Shore companies as a mechanism to hide ill-gotten money. After all she has produced two documentaries about ills in Pakistan with "pure" intention of removing them from Pakistan!

    Or maybe not, since she and her family are part of this game.

    Lets true face of all these exploiters be unveiled, who are selfish animals out to exploit innocent human beings.

  • Panama Leaks Episode 2 has changed the scenario in Pakistan. Those who were accusing, not all but many, are now defending themselves. More exposures are in the pipeline. I do not think this upheaval is restricted to Pakistan. The stories of most of the countries of the world are on the plethora of Panama Leaks papers. Something is in the cooking and something is going to happen on the planet earth.

  • خیر سے بھائی کا نام بھی آ ہی گیا ، وہبھڑوہی کیا جو بھائی کا نام نہ لائے

  • Searchable list of 607 Pakistanis with offshore accounts in Panama:

  • پاکستان کی پارلیمان میں متحدہ اپوزیشن نے لندن میں جائیداد، ٹیکسوں کی ادائیگیوں اور وزیر اعظم اور ان کے خاندان کے اثاثوں سے متعلق سات سوالات نواز شریف کے سامنے رکھے ہیں اور ان سے قومی اسمبلی میں آ کر جواب دینے کا مطالبہ کیا ہے۔

  • پانامہ سب سے زیادہ کراچی کی کمپنیاں

    یہ وہی ہیں جو کہتے ہیں کہ مکھی مچھر ماردو تو ہڑتال ہوجاتی ہے - کماتے پاکستان

    سے ہیں اوربجاتے بھی اسی کی ہیں - پکڑو انہیں جیلوں میں ڈالو ان کو ، کوئی مائی کا

    لعل ان کا کچھہ نہیں بگاڑ سکتا

  • جنہوں نے قرضے معاف کرائے ہیں انکے خلاف تو سارے ثبوت موجود ہیں - اگر کورٹ

    چاہے تو تین دن میں انکا سب کچھہ ضبط کرکے جیل بھیج سکتی ہے - اب دانشور کہینگے کہ

    متحدہ والے تو خوابوں کی دنیا میں رہتے ہیں - لیکن ہوگا کچھہ نہیں ، سب ایک ہی تھیلی کے چٹ٘ے بٹ٘ے ہیں

  • تجزیہ کار حسن نثار نے پاناما لیکس اور آف شور کمپنیوں کی تحقیقات اوراحتساب کا فارمولہ بتا دیا،وزیر اعظم اور عمران خان دونوں کو احتساب کے عمل سے گذارا جائے،دودھ کا دودھ پانی کا پانی ہو جائے گا۔

    نجی ٹی وی کی پروگرام اینکر کے ایک سوال کے جواب میں حسن نثار کا کہنا تھا کہ احتساب کا عمل وزیر اعظم سے شروع کیا جائے اور اس میں عمران خان کو بھی اس عمل سے گذارا جائے۔ان کا کہنا تھا کہ ملک میں حقیقی اپوزیشن لیڈر صرف عمران خان ہے،خورشید شاہ تو ٹیکنیکل اپوزیشن ہیں،ان کا کہنا تھا کہ وزیر اعظم اور حقیقی اپوزیشن لیڈر کو احتساب کے عمل سے گذارا جائے ان میں سے جو گنہگار اور جو بے گناہ ہے اس کے متعلق قوم کو آگاہ کیا جائے۔حسن نثار نے کہا کہ پاناما لیکس کا معاملہ سینکڑوں انسانوں کے قتل سے سنگین جرم ہے۔حسن-نثار-نے-پاناما-اور-آف-شور-کمپنیوں-کی/

  • Yes, Bismillah should be done with Nawaz Sharif and Imran Khan, to "Dodh Ka Dodh aur Pani Ka Pani".

    Processing time will be minimal for two individuals. After "Dodh Ka Dodh aur Pani Ka Pani" is done for the top two, others having their names in the Leaks will become MANDATORY to get processed through the mechanism.

  • Friend Ayatullah Adnak

    Please stop day-dreaming!

  • @Friend Ayatullah Anjaan Jee

    Agar aap ketay hein to chorr deta hoon aur 'Ganda Pani Milay Doodh' par guzara karta rahoon ga.

  • No, Friend Ayatullah Adnak

    Do not give up but equally do not even imagine that something will be done about it. I recall Musharraf was on exit control but then he could only find a competent medical place in Dubai!!!!