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Former Pakistan PM sentenced over charges relating to UK property

Former Pakistan PM sentenced over charges relating to UK property
UK must now act on properties

6th July 2018, London – Following the sentencing today in Pakistan of former Prime Minister Nawaz Sharif, on corruption charges related to four London properties, the UK should act fast to ensure it’s not seen to be providing a safe haven for the corrupt.

If a UK investigation concludes that the properties have been bought with corrupt money, then the authorities should move to seize the assets. Transparency International also calls on UK law enforcement to investigate any further property in the UK owned by the Sharif family.

Sharif was today sentenced to ten years in prison for owning assets beyond his income, whilst his daughter received seven years for her role. In 2016 the Panama Papers exposed links between several members of the Sharif family and offshore companies that were allegedly used to purchase London property. Today’s court ruling ordered the confiscation of these properties for the Government of Pakistan.

It has been reported that Nawaz Sharif is currently in London and has regularly been visiting the UK during the trial. The UK Government has consistently said it aims to crackdown on the laundering of corrupt funds through the UK, although recent media reports suggest that the authorities failed to properly assist Pakistani counterparts during this investigation.

Rachel Davies Teka, Head of Advocacy at Transparency International UK, said:

“We are calling on the UK authorities to investigate the London-based assets identified in this conviction and ensure that Sharif and his family are no longer able to enjoy any luxury homes that are found to have been bought with the proceeds of corruption. Furthermore we believe the UK must look into any other potentially criminal UK based assets owned by the Sharif family.”

“This will serve as an important test as to how serious the Government is on cracking down on the prevalence of corrupt money in our capital. The laundering of dirty money is not confined to Russian oligarchs and it is important that we target illicit assets wherever they originate from.”

“The recent passing of legislation that will require British Overseas Territories to publicly reveal the true owners of companies is a key step towards preventing the purchase of UK property with suspicious wealth. The UK must now ensure it follows through on this legislation, so that we no longer need to rely on leaks like the Panama Papers to reveal cases such as this one.”

***ENDS***

Contact:
Dominic Kavakeb
+44 20 3096 7695
+44 79 6456 0340
Dominic.kavakeb@transparency.org.uk

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Read 3031 times Last modified on Monday, 9 July 2018 14:22

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