LAHORE: The Federal Investigation Agency (FIA) Anti-Money Laundering circle has registered a case against former Federal Minister Moonis Elahi, his frontman Gibran Khan and his father and Pakistan Tehreek-e-Insaf President Chaudhry Parvez Elahi under section 34, 109, 161, 162- PPC r/w 5, 23 FERA 1947 / w 5(2) PCA 1947 r/w 3 and 4 AMLA 2010 against while the role of other co-accused persons and companies involved shall be determined during the course of investigation.
A senior official from FIA confirmed that during the course of enquiry No. 115/23, it transpired that Gibran Khan is involved in corruption, bribery and money laundering of crime proceeds in connivance with Moonis Elahi and Parvez Elahi (Ex CM Punjab 2002-08 and 2022-23).
Who is Gibran Khan?
He maintained that the accused Gibran Khan was working as front man of Moonis Elahi who held different public offices such as Member of Provincial Assembly Punjab (2008-13 and 2013-18), Federal Minister for Water Resources (2021-22) and Member of National Assembly(2018-till date) and had accumulated crime proceeds through corruption and bribery in connivance with the accused Parvez Elahi who also held different public offices during the last 20 years i.e. Chief Minister Punjab (2002-2008), Federal Minister for Industries (2011-2013), Deputy Prime Minister (2012-13), Member of National Assembly (2013-18), Speaker Punjab Assembly (2018-22) and Chief Minister Punjab (27-09-2022 to 09-01-2023).
Sources from FIA maintained that these crime proceeds were laundered by the said accused persons through the accused Gibran Khan who was the CEO of M/s Agro Tractors Pvt Limited established in 2004 for the purpose of disguising the crime proceeds of corruption and bribery and subsequently money laundering.
What is their Modus Operandi?
They further maintained that the modus operandi of establishing the off-shore companies (shell companies), sending the capital (crime proceeds) abroad in these shell companies through Hundi/Hawala and then investments through these shell companies into the local companies was adopted by the said accused persons for the purpose of money laundering of crime proceeds of corruption and bribery.
The accused Gibran Khan remained as a frontman of the accused Moonis Elahi and his family by forming multiple offshore companies during his tenures while holding public office.
How are Moonis Elahi and Parvez Elahi involved?
As per the available evidence, it transpired that one offshore company namely Eigile Holdings Ltd had purchased 660,000 (71%) shares in Agro Tractor Ltd in 2005.
The same company transferred the shares to General Mediterranean Holdings S.A. in 2009 (an off-shore company revealed in the Panama Papers scandal). It is further revealed that the shareholders of General Mediterranean Holdings S.A were also in the form of companies, not individuals (typical method used in Money Laundering to hide the name of the shareholders and beneficiaries).
This sham structure was highlighted by the Panama papers with regard to General Mediterranean Holdings S.A as per information revealed through International Consortium of Investigative Journalists (ICIJ). Surprisingly, the registered address of General Mediterranean Holdings S.A is also the same address as that of its shareholder companies i.e. 29 Avenue De La Porte Neuve, L-2227, Luxembourg.
The detail of the shareholders of the aforementioned company according to Panama Papers is as under:-
Sources from FIA apprised that this concludes that General Mediterranean S.A was purposefully made by Gibran Khan the then CEO of Agro Tractor for hiding the actual owner / shareholder of the company working on behalf of the co-accused persons; Moonis Elahi and Pervez Elahi who were the real owner as well as beneficiary of these companies.
This very fact is corroborated by the purchase of shares of Agro Tractors Pvt Ltd by Lorenzo in 2012.
The accused Moonis Elahi owns 34% shares of the said company (Lorenzo), meaning thereby he is the real beneficiary of Lorenzo Gas Pvt Ltd and he purchased the shares of Agro Tractors to legalise and launder his corruption proceeds through his company Lorenzo Gas Pvt Ltd.
The crime proceeds of Corruption & Bribery were allegedly sent into foreign jurisdictions through Hundi/Hawala.
Furthermore, as per the available evidence, the accused Gibran Khan as CEO of Agro Tractors signed a license agreement with John Deere to manufacture tractors in Pakistan. However, as per documents received from John Deere Asia (Singapore) P t Ltd, the agreement between John Deere Asia and Agro Tractors was terminated on 17 January 2012.
Gibran Khan transferred 285 million in the account of Agro Tractors
It is pertinent to mention here that despite the termination of the said contract Gibran Khan has deposited cash of Rs. 285 Million in the account of Agro Tractors from 2011 to 2016 without any business purpose.
During the course of enquiry, the accused Gibran Khan was summoned through notices U/S 160 Cr.P.C to explain his position in this regard, but he did not appear deliberately.
Moreover, as per the available record, a litigation process took place between Agro Tractors and John Deere of which one hearing was held at Circuit Court of Cook County, Illinois on 9 Mar 2012, which included legal representatives of Agro Tractors. Later, counter claims were filed before ICC International Court of Arbitration in Switzerland in which huge amounts of legal fee in foreign currency was paid to legal counsels of M/s Agro Tractors Pvt Limited.
The source of these payments is also unknown as the accused Gibran Khan has not joined the enquiry proceedings.
Prima facie, the above referred inexplicable cash deposits are crime proceeds acquired through corrupt practices. These crime proceeds were laundered by establishing different moveable/immovable assets in the name of above referred accused persons in connivance with each other.
Complete money trail and details of assets established through crime proceeds will be thrashed out during the course of investigation.
Prima facie, offences u/s 34, 109, 161, 162-PPC / w 5, 23 FERA 1947 r/w 5(2) PCA 1947 r/w 3 &4 AMLA 2010 are made out against the accused persons namely Gibran Khan, Chaudhry Moonis Elahi and Chaudhry Parvez Elahi while the role of other co-accused persons and companies involved shall be determined during the course of investigation.
A senior official from FIA confirmed that during the course of enquiry No. 115/23, it transpired that Gibran Khan is involved in corruption, bribery and money laundering of crime proceeds in connivance with Moonis Elahi and Parvez Elahi (Ex CM Punjab 2002-08 and 2022-23).
Who is Gibran Khan?
He maintained that the accused Gibran Khan was working as front man of Moonis Elahi who held different public offices such as Member of Provincial Assembly Punjab (2008-13 and 2013-18), Federal Minister for Water Resources (2021-22) and Member of National Assembly(2018-till date) and had accumulated crime proceeds through corruption and bribery in connivance with the accused Parvez Elahi who also held different public offices during the last 20 years i.e. Chief Minister Punjab (2002-2008), Federal Minister for Industries (2011-2013), Deputy Prime Minister (2012-13), Member of National Assembly (2013-18), Speaker Punjab Assembly (2018-22) and Chief Minister Punjab (27-09-2022 to 09-01-2023).
Sources from FIA maintained that these crime proceeds were laundered by the said accused persons through the accused Gibran Khan who was the CEO of M/s Agro Tractors Pvt Limited established in 2004 for the purpose of disguising the crime proceeds of corruption and bribery and subsequently money laundering.
What is their Modus Operandi?
They further maintained that the modus operandi of establishing the off-shore companies (shell companies), sending the capital (crime proceeds) abroad in these shell companies through Hundi/Hawala and then investments through these shell companies into the local companies was adopted by the said accused persons for the purpose of money laundering of crime proceeds of corruption and bribery.
The accused Gibran Khan remained as a frontman of the accused Moonis Elahi and his family by forming multiple offshore companies during his tenures while holding public office.
How are Moonis Elahi and Parvez Elahi involved?
As per the available evidence, it transpired that one offshore company namely Eigile Holdings Ltd had purchased 660,000 (71%) shares in Agro Tractor Ltd in 2005.
The same company transferred the shares to General Mediterranean Holdings S.A. in 2009 (an off-shore company revealed in the Panama Papers scandal). It is further revealed that the shareholders of General Mediterranean Holdings S.A were also in the form of companies, not individuals (typical method used in Money Laundering to hide the name of the shareholders and beneficiaries).
This sham structure was highlighted by the Panama papers with regard to General Mediterranean Holdings S.A as per information revealed through International Consortium of Investigative Journalists (ICIJ). Surprisingly, the registered address of General Mediterranean Holdings S.A is also the same address as that of its shareholder companies i.e. 29 Avenue De La Porte Neuve, L-2227, Luxembourg.
The detail of the shareholders of the aforementioned company according to Panama Papers is as under:-
Sources from FIA apprised that this concludes that General Mediterranean S.A was purposefully made by Gibran Khan the then CEO of Agro Tractor for hiding the actual owner / shareholder of the company working on behalf of the co-accused persons; Moonis Elahi and Pervez Elahi who were the real owner as well as beneficiary of these companies.
This very fact is corroborated by the purchase of shares of Agro Tractors Pvt Ltd by Lorenzo in 2012.
The accused Moonis Elahi owns 34% shares of the said company (Lorenzo), meaning thereby he is the real beneficiary of Lorenzo Gas Pvt Ltd and he purchased the shares of Agro Tractors to legalise and launder his corruption proceeds through his company Lorenzo Gas Pvt Ltd.
The crime proceeds of Corruption & Bribery were allegedly sent into foreign jurisdictions through Hundi/Hawala.
Furthermore, as per the available evidence, the accused Gibran Khan as CEO of Agro Tractors signed a license agreement with John Deere to manufacture tractors in Pakistan. However, as per documents received from John Deere Asia (Singapore) P t Ltd, the agreement between John Deere Asia and Agro Tractors was terminated on 17 January 2012.
Gibran Khan transferred 285 million in the account of Agro Tractors
It is pertinent to mention here that despite the termination of the said contract Gibran Khan has deposited cash of Rs. 285 Million in the account of Agro Tractors from 2011 to 2016 without any business purpose.
During the course of enquiry, the accused Gibran Khan was summoned through notices U/S 160 Cr.P.C to explain his position in this regard, but he did not appear deliberately.
Moreover, as per the available record, a litigation process took place between Agro Tractors and John Deere of which one hearing was held at Circuit Court of Cook County, Illinois on 9 Mar 2012, which included legal representatives of Agro Tractors. Later, counter claims were filed before ICC International Court of Arbitration in Switzerland in which huge amounts of legal fee in foreign currency was paid to legal counsels of M/s Agro Tractors Pvt Limited.
The source of these payments is also unknown as the accused Gibran Khan has not joined the enquiry proceedings.
Prima facie, the above referred inexplicable cash deposits are crime proceeds acquired through corrupt practices. These crime proceeds were laundered by establishing different moveable/immovable assets in the name of above referred accused persons in connivance with each other.
Complete money trail and details of assets established through crime proceeds will be thrashed out during the course of investigation.
Prima facie, offences u/s 34, 109, 161, 162-PPC / w 5, 23 FERA 1947 r/w 5(2) PCA 1947 r/w 3 &4 AMLA 2010 are made out against the accused persons namely Gibran Khan, Chaudhry Moonis Elahi and Chaudhry Parvez Elahi while the role of other co-accused persons and companies involved shall be determined during the course of investigation.