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[Poetic.Injustice]

https://www.dawn.com/news/1316531/how-pakistans-panama-papers-probe-unfolded

BBC report:

https://youtu.be/XmK7KNXmXw8

You probably remember the Panama leaks that happened almost a year ago, where it was revealed how the world's elite stored their ill-gotten wealth through offshore companies.

The leaks gained major traction in Pakistani media and ignited a whirlwind in the country when it was revealed that the prime minister, Nawaz Sharif and his children owned offshore companies which owned 4 apartments in London's costliest real estate worth millions.

On November 30th of last year, after the opposition threatened to protest and lock down the capital, the Supreme Court of Pakistan decided to intervene and take up the case against the Prime Minister and his children.

What has happened since then has been nothing short of incredible: From letters of Qatri prince's claiming they owned the flats and had simply gifted them to the Sharifs, to no banking or money trail being provided by the prime minister and his family's lawyer. The prime minister made a speech on the floor of parliament regarding the money trail, but made a complete U-turn in court. This is just a small summary where you can read much more at the link I provided. There are more plot twists here than a metal gear game. :lol

All the country's law enforcement agencies have been exposed as being in the PM's pocket, being complicit with his corruption and refusing to investigate it outright.

The hearing of the case finally concluded more than a week ago and many are calling it the most important case in the history of the country.

 

[Dingens]

I wish other countries would've followed up on it too... but it just wasn't shocking enough I guess?

 

[Poetic.Injustice]

I wish other countries would've followed up on it too... but it just wasn't shocking enough I guess?

Lots of countries followed through by passing tougher laws. Which ones are you referring to?

 

[Steel]

I wish other countries would've followed up on it too... but it just wasn't shocking enough I guess?

I mean, Iceland lost a prime minister to it IIRC.

 

[LewieP]

Yeah I guess in the UK everyone pretty much forgot about it.

 

[Poetic.Injustice]

BBC report that's easier to digest.

https://youtu.be/XmK7KNXmXw8

 

[darkace]

You probably remember the Panama leaks that happened almost a year ago, where it was revealed how the world's elite stored their ill-gotten wealth through offshore companies.

I remember the majority being legitimately obtained.

 

[Hexa]

All the country's law enforcement agencies have been exposed as being in the PM's pocket, being complicit with his corruption and refusing to investigate it outright.

You say this as if it wasn't already well known. I would have been incredibly shocked if anything had come of this . When everyone from elementary school teachers to the Prime Minister are corrupt as hell, what are you expecting?

The massive protest with Imran was cool though. I remember watching that live.

 

[Poetic.Injustice]

You say this as if it wasn't already well known. I would have been incredibly shocked if anything had come of this . When everyone from elementary school teachers to the Prime Minister are corrupt as hell, what are you expecting?

The massive protest with Imran was cool though. I remember watching that live.

Knowing it and being exposed in open trial in the Supreme Court is another thing altogether.

 

[Poetic.Injustice]

Another documentary detailing all major points in the case.

https://www.youtube.com/watch?v=V7VbH7kVNzI

 

[Poetic.Injustice]

Judgement expected within two days according to media sources.

 

[Poetic.Injustice]

After two months of delay, the court decision is coming on the 20th of April.

https://www.dawn.com/news/1327764/panamagate-verdict-on-april-20-confirms-supreme-court-of-pakistan

 

[Kyzer]

Pakistan has their head in the game.

 

[Lamel]

This is actually incredibly important for the country. Corruption has run rampant in the government and it needs to be shown that there are consequences. Ultimately it's the people who suffer and the politicians profit.

Thanks for updating OP, I'll follow it from here on.

 

[orochi91]

Why are they the only country pursuing those leaks?

Everyone else seems to have swept this case under the rug.

 

[Kyzer]

Why are they the only country pursuing those leaks?

Everyone else seems to have swept this case under the rug.

Yeah lol

 

[Poetic.Injustice]

This is actually incredibly important for the country. Corruption has run rampant in the government and it needs to be shown that there are consequences. Ultimately it's the people who suffer and the politicians profit.

Thanks for updating OP, I'll follow it from here on.

No doubt, it is an unprecedented event, and recently a judge on the bench said their decision would set a precedent that will be remembered for centuries to come.

ISLAMABAD: A Supreme Court judge on Tuesday observed that the apex court's verdict in the Panamagate case will set a precedent which will be remembered for centuries.

”Our pronouncement on the Panama issue will be a law which will be endured for centuries," Justice Ejaz Afzal Khan, who is part of the top court's larger bench which heard the Panamagate case, said in his remarks during the hearing of an appeal filed by the Punjab government against the Lahore High Court's order suspending the construction of the Orange Line Metro Train project.

https://tribune.com.pk/story/1380544/panamagate-verdict-set-historical-precedent-sc/

 

[Steeped in a Sea of Games]

I know not many people are posting in this, but I hope you post the result. I'm interested in knowing what happens and it doesn't seem to have any traction anywhere.

 

[Mass_Pincup]

Why are they the only country pursuing those leaks?

Everyone else seems to have swept this case under the rug.

Iceland?

Their PM had to resign.

 

[Poetic.Injustice]

1998 BBC Hardtalk interview where the PM's son claimed he was living on 'rent':

https://youtu.be/ShojccRJI8w?t=9m36s

2000 Guardian newspaper article where Sharif's wife admits they bought the flats for their children:

"Having property is not illegal. The Sharif family is not at all corrupt and insh'allah (God willing) we will prove it one day," Mrs Sharif said recently. "The Park Lane flats were bought because the children were studying in London."

https://www.theguardian.com/world/2000/apr/10/pakistan.rorymccarthy

Their most recent stance: We bought them from Qatri prince in 2006. 😂

 

[Poetic.Injustice]

I know not many people are posting in this, but I hope you post the result. I'm interested in knowing what happens and it doesn't seem to have any traction anywhere.

Thanks, it is kind of discouraging when no one replies and I tend to feel that posting about this stuff on GAF is a waste of time.

 

[Poetic.Injustice]

Why are they the only country pursuing those leaks?

Everyone else seems to have swept this case under the rug.

The plan in Pakistan was to sweep it under the rug too, the country's defense minister even brazenly said in parliament addressing the prime minister: "Don't worry, people will forget about it."

Credit goes to opposition who kept the issue alive and forced the supreme court to take action on this issue.

 

[Chmpocalypse]

Why are they the only country pursuing those leaks?

Everyone else seems to have swept this case under the rug.

$$$$$$$$$$$$$$$$$$$$

 

[Frozenprince]

I hope this is finally a real first step against corruption in the Pakistani state.

Maybe it can lead to positive political change for the first time in decades. And begin easing the militaries stranglehold on the country.

 

[Poetic.Injustice]

Flashback to 1997: The very same prime minister was indicted on contempt of court charges by the very same supreme court. Workers of the party physically attacked the supreme court, supreme court judges were forced to flee for their lives.

https://www.youtube.com/watch?v=gLDWT6Gkw9k

Strong security measures taking place while reports say they have the same plans this time around.

 

[BlackGoku03]

Hopefully they won't have to run for their lives.

I hate how much rich folks get away with shit.

 

[tokkun]

Why are they the only country pursuing those leaks?

Everyone else seems to have swept this case under the rug.

A lot of the stuff in the leaks was not illegal, just sordid, so there aren't that many court cases. Mainly it caused political trouble. The case in Pakistan is not really about the fact that the money was invested illegally, but more about suspicions about how it was obtained in the first place.

In the US a couple states have changed their laws to make it harder to register corporations without disclosing the real owner.

 

[Poetic.Injustice]

Hopefully they won't have to run for their lives.

I hate how much rich folks get away with shit.

With the advent of free media and social media, it's unlikely that history will repeat itself.

 

[RustyNails]

Bring back Musharraf.

 

[oreomunsta]

Thanks, it is kind of discouraging when no one replies and I tend to feel that posting about this stuff on GAF is a waste of time.

Please do continue to update us!

I'll Subscribe, because this shit is fascinating. I admittedly have forgotten about the Panama Leak, because it didn't amount to much in North America, it seems

 

[capitalCORN]

Hoping for a good outcome in Pakistan. I used to live in a heavily Pakistani neighbourhood when I was a child, and grew up with a lot of South Asian kids. They often gave me best reception, even over my own ethnicity. Such kindness is not so easily forgotten. Best of luck!

Edit: No offense intended.

 

[Poetic.Injustice]

During the trial, there have been a lot of funny moments with the prime minister's defense. But one that stands out to me is the case of Maryam's(PM daughter) BMW.

Chief Justice of Pakistan (CJP) Anwar Zaheer Jamali raised a question about the addition of Rs1.96m in Maryam Nawaz's wealth which she attributed to a BMW car gifted to her by her father.

"How could a second hand car raise that kind of money?" the CJP asked.

https://www.dawn.com/news/1300833

Basically Maryam claimed she got 1.96 million rupees($190,000) in profit from selling a used car that had a market value of 35,00,000 rupees($33,000).

This led to a lot of jokes about a golden egg laying BMW making the rounds.

 

[lucebuce12]

Bring back Musharraf.

Yeaaahhhh, no.

 

[BajiBoxer]

Damn, I'd 100% forgotten about the Panama stuff.

 

[Ogodei]

Insane corruption from Sharif was part of the reason for the 1999 Musharraf coup, right?

 

[GameAddict411]

During the trial, there have been a lot of funny moments with the prime minister's defense. But one that stands out to me is the case of Maryam's(PM daughter) BMW.



https://www.dawn.com/news/1300833

Basically Maryam claimed she got 1.96 million rupees($190,000) in profit from selling a used car that had a market value of 35,00,000 rupees($33,000).

This led to a lot of jokes about a golden egg laying BMW making the rounds.

It's incredible how this have come to light despite how it is probably known in the general public that people in power are wealthy, but now by real tangible evidence. This level of corruption happens in a lot of developing nation in middle East, central asia and east Asia. When the story of where the money came from changes, it's immediately clear that it's a lie. It's probably through bribes and other forms of corruption. I hope that from now on politicians in Pakistan go through the same scrutiny to where their wealth came from.

 

[Poetic.Injustice]

Insane corruption from Sharif was part of the reason for the 1999 Musharraf coup, right?

No, Other events like the Kargil war were the cause of the coup. Disagreements between Nawaz Sharif and Musharraf on the war led to the government not allowing Musharraf's plane to land back in Pakistani airspace after he was returning from Sri Lanka. This led to a strong reaction from the military who would not tolerate such treatment of their military leader and this was the chief cause.

 

[Poetic.Injustice]

Time remaining until decision is announced.

 

[Poetic.Injustice]

In his 2005 book 'Capitalism's Achilles Heel', author Raymond Baker details how Nawaz Sharif made money from kickbacks in the motorway project in the 90s, wrote off state bank loans and other corrupt activities as prime minister.

While Benazir Bhutto hated the generals for executing her father, Nawaz Sharif early on figured out that they held the real power in Pakistan. His father had established a foundry in 1939 and, together with six brothers, had struggled for years only to see their business nationalized by Ali Bhutto's regime in 1972. This sealed decades of enmity between the Bhuttos and the Sharifs. Following the military coup and General Zia's assumption of power, the business—Ittefaq—was returned to family hands in 1980. Nawaz Sharif became a director and cultivated relations with senior military officers. This led to his appointment as finance minister of Punjab and then election as chief minister of this most populous province in 1985. During the 1980s and early 1990s, given Sharif 's political control of Punjab and eventual prime ministership of the country, Ittefaq Industries grew from its original single foundry into 30 businesses producing steel, sugar, paper, and textiles, with combined revenues of $400 million, making it one of the biggest private conglomerates in the nation. As in many other countries, when you control the political realm, you can get anything you want in the economic realm.

With Lahore, the capital of Punjab, serving as the seat of the family's power, one of the first things Sharif did upon becoming prime minister in 1990 was build his long-dreamed-of superhighway from there to the capital,Islamabad. Estimated to cost 8.5 billion rupees, the project went through two biddings. Daewoo of Korea, strengthening its proposals with midnight meetings, was the highest bidder both times, so obviously it won the contract and delivered the job at well over 20 billion rupees.

A new highway needs new cars. Sharif authorized importation of 50,000 vehicles duty free, reportedly costing the government $700 million in lost customs duties. Banks were forced to make loans for vehicle purchases to would-be taxi cab drivers upon receipt of a 10 percent deposit. Borrowers got their ”Nawaz Sharif cabs," and some 60 percent of them promptly defaulted. This left the banks with $500 million or so in unpaid loans. Vehicle dealers reportedly made a killing and expressed their appreciation in expected ways. Under Sharif, unpaid bank loans and massive tax evasion remained the favorite ways to get rich. Upon his loss of power the usurping government published a list of 322 of the largest loan defaulters, representing almost $3 billion out of $4 billion owed to banks. Sharif and his family were tagged for $60 million. The Ittefaq Group went bankrupt in 1993 when Sharif lost his premiership the first time. By then only three units in the group were operational, and loan defaults of the remaining companies totaled some 5.7 billion rupees, more than $100 million.

Like Bhutto, offshore companies have been linked to Sharif, three in the British Virgin Islands by the names of Nescoll, Nielson, and Shamrock and another in the Channel Islands known as Chandron Jersey Pvt. Ltd. Some of these entities allegedly were used to facilitate purchase of four rather grand flats on Park Lane in London, at various times occupied by Sharif family members. Reportedly, payment transfers were made to Banque Paribas en Suisse, which then instructed Sharif 's offshore companies Nescoll and Nielson to purchase the four luxury suites.

In her second term, Benazir Bhutto had Pakistan's Federal Investigating Agency begin a probe into the financial affairs of Nawaz Sharif and his family. The probe was headed by Rehman Malik, deputy director general of the agency. Malik had fortified his reputation earlier by aiding in the arrest of Ramzi Yousef, mastermind of the 1993 World Trade Center bombing. During Sharif 's second term, the draft report of the investigation was suppressed, Malik was jailed for a year, and later reportedly survived an assassination attempt, after which he fled to London. The Malik report, five years in the making, was released in 1998, with explosive revelations:

The records, including government documents, signed affidavits from Pakistani officials, bank files and property records, detail deals that Mr. Malik says benefited Mr. Sharif, his family and his political associates:

At least $160 million pocketed from a contract to build a highway from Lahore, his home town, to Islamabad, the nation's capital.
At least $140 million in unsecured loans from Pakistan's state banks.
More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates.
At least $58 million skimmed from inflated prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif 's government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely inflated invoices for the wheat generated tens of millions of dollars in cash.

The report went on to state that ”The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake." In an interview, Malik added: ”No other leader of Pakistan has taken that much money from the banks. There is no rule of law in Pakistan. It doesn't exist."

https://teeth.com.pk/blog/2012/04/01/nawaz-sharif-corruption-in-raymond-bakers-dirty-money/

This is widely accepted as the real money trail of how the Sharif's bought these flats.

 

[Corpsepyre]

Where are you from, OP?

 

[AAK]

Nothing is going to change.

 

[Poetic.Injustice]

2 hours to go; unfortunately, violence is widely expected throughout the country. The ruling party have put up threatening banners all over the country.

Islamabad: With the final verdict in the Panamagate case fast approaching, banners vowing to “shed blood” for leaders of Pakistan’s ruling party have been put up in Lahore and Rawalpindi.

Hours after the apex court announced the time it would deliver its verdict in the Panama Papers case, hundreds of banners and posters in favour of the ruling party Pakistan Muslim League-Nawaz (PML-N) appeared on the streets in two cities.

The posters, with pictures of Prime Minister Nawaz Sharif, bear the lines: “Quaid Tera Aik Ishara Hazir Hazir Lahu Hamara” (Chief we are ready to shed blood on your call).

http://gulfnews.com/news/asia/pakis...-blood-for-pakistan-pm-nawaz-sharif-1.2014219

 

[Morat]

Interesting, thanks OP.

 

[Auto_aim1]

Bring back Musharraf.

You're kidding, right?

 

[JoJo UK]

Yeah I guess in the UK everyone pretty much forgot about it.

I work in the anti money laundering division of a UK bank and the word Panama became super hot after this news, still is today. Anyone be it a business or a personal customer has their accounts and financial affairs gone through with a fine toothed comb.

 

[Poetic.Injustice]

Just over 30 minutes left, most people are predicting a commission will be formed which will further probe the prime minister's assets and holdings.

 

[bwakh]

Another JIT goddamn it

 

[sazzy]

it took them 57 days to decide that someone else should make the decision

cool

 

[Poetic.Injustice]

3-2 split decision, 2 of the judges said the PM should have been removed.

 

[lucebuce12]

Nothing is going to change.

This.

The entire country's leadership is too dependent on it being corrupt. If they expose the corruption of one party or one specific group then there's nothing to stop the ball from continuing to roll and eventually coming down on their heads.