Final Investigation Report of Joint Investigation Team (Panama Case) 1 FINAL INVESTIGATION REPORT OF JOINT INVESTIGATION TEAM - (PANAMA CASE) th In pursuance to the order of Honorable Supreme Court of Pakistan dated April 20 , 2017 and th Implementation Bench Order dated May 5 , 2017 in case of C.M.A No, 2939 of 2017 in constitution Petition No, 29 of 2016 etc. Joint Investigation Team initiated the investigation into the affairs of panama papers case on May 8, 2017. The following members compromise the JIT. Mr. Wajid Zia, PSP, Head of JIT (Addl, Director General, FIA). Brigadier Muhammad Nauman Saeed (R), Member (Rep, ISI). Brigadier Kamran Khurshid, Member (Rep, MI) Mr. Amer Aziz, Member (Executive Directory, SBP) Mr. Bilal Rasul, Member /Secretary (Executive Director, SECP) Mr. Irfan Naeem Mangi, Member (Director, NAB) The Scope and Key Focus Areas of JIT’s Investigation Report The JIT has completed his investigation, which culminates in its Final Report submitted herewith. The scope and mandate of the JIT has been focused on answering the following questions and addressing ancillary matters in the allotted time of sixty days by the Honorable Supreme Court: How did Gulf Steel Mills come into being; What led to its sale; 2 What happened to its liabilities Where did its proceeds end up; How did they reach Jeddah, Qatar and the U.K; Whether respondents No.7 and 8 in view of their tenders ages had the means in the early nineties ton possess and purchase the flats; Whether sudden appearance of the letters of Hamada Bin Jassim Bin Jabber Bin Al- Thani is a myth or reality; How bearer shares crystallized into the flats; Who, in fact is the real and beneficial owner of M/s. Nielsen Enterprises Limited and M/s. Nescoll Limited; How did Hills Metals Establishment come into existence; Where did the money for Flagship Investment Limited and other companies set up/ taken over by respondent No. 8 come from; And where did the working capital for such companies come from and Where do the huge sums running into million gifted by respondent No. 7 to respondent No. 1 drop in from. In addition to above, the JIT also investigated the acquired assets of the Respondent s and their interest therein disproportionate to their means of income in the light of the order of the Court. Furthermore, it examined the evidence and material already available with FIA and NAB related to or having any nexus with the possession or acquisition of Avenfield properties or any other assets or pecuniary resources and their origin. The Final Investigation Report of The JIT: The JIT declares that it has attempted to thoroughly answer and address all the queries of the Honorable Supreme Court by employing its best efforts and use of minimal resources through a course of exhaustive investigation inland and 3 abroad. The final investigation report has been preceded by three progress reports that were each submitted on a fortnightly basis (May 22, June and July 22, 2017) per the directions of the Honorable Supreme Court. The final consolidation Report of JIT comprising the following 10 +2 volumes is submitted for kind perusal, a. Volume-1: Summary of Investigation b. Volume -2: Statement of Witnesses and Analysis c. Volume -3: Gulf Steel Mills d. Volume-4: Ownership of Avenfield Apartment e. Volume-5: Qatari Letters f. Volume-6: Hills Metals Establishment/ Gifts g. Volume-7: Flagship Investments Limited & Companies h. Volume-8(A): NAB/FIA Cases i. Volume-8(A): Hudabiya Mills Case Volume-9:Assets beyond Means- Mian Muhammad Nawaz Sharif k. Volume-9 (A): Assets beyond Means- other Respondents Volume-10:Mutual Legal Assistance Requests- Ongoing (Confidential) Investigation Methodology: The Joint Investigation Team (JIT) conducting investigations on multiple prongs to find truth with reference to thirteen (13+2) Questions raised by the Honorable Bench along with the issue of acquiring assets disproportionate to know means of income, with the assigned period (60 days). The Investigation was conducted with a view to collect evidence to i) Corroborate or 4 Contradict the stance by the Respondents before the Honorable Supreme Court of Pakistan and ii) ascertain how the events actually transpired. This was done by; Examining witnesses and collecting evidences; Confirming the events/chronology based on corroboration to statements by different witnesses; Seeking Mutual Legal Assistance (MLA) from foreign countries to acquire essential information and documents; Analysis /forensics of available record / documents (inquiry reports and tax returns etc.) acquired from various institutions/Government Departments Seeking assistance of expert document examiner where required Initial planning and decisions. In the initial meetings, the JIT deliberated on the course of action and strategy to be adopted. It was decided that, given the limited time available, the JIT must work simultaneously on all, dimensions of the case and address the issues faced on an emergent basis. The following preliminary issues / requirements were identified; Security protocols- to ensure security of personal, material and information. This issue was resolved in the first meeting by deciding the protocols; Ensuring independent of the JIT from executive interference; Selecting a reputed overseas firm- to assist the JIT in issues related to overseas jurisdiction and procuring of evidence/ material / information related to Mutual Legal Assistance abroad; and Association experts from different departments – for supporting the investigation process. The progress attained in resolving these issues is discussed in detail in the following paragraphs. 5 Follow up actions: The following methodology was adopted for undertaking the investigation within stimulated time (60 days) Identification and summoning of witnesses: a total of 28 witnesses were summoned and examined in multiple sessions, which were either related to or acquainted with the fact of the case. It would be prudent to highlight, the despite repeated summons, following witnesses did not appear before the JIT: - Mr. Hamad Bin Jassim Bin Jabber Al- Thani (Qatari Prince); Sheikh Saeed (US National, close associate of Respondent No,1 and required for Hudabiya Mills Case and Hill Metal Establishment money transactions); MR. Moosa Ghani (nephew of the wife of Mr. Ishaq Dar) in relation to his involvement in fraudulent, Fictitious money transactions associated with Hudabiya Mills Case and his role in Malik Abdul Ghani Trust; Mr. Kashif Masood Qazi (principle witness in Hudabiya Mills Case); Mr. Shezi Nakvi (plaintiff in Al- Towfeeq Case); Witness on ECL: Mr. Javed Kiyani and Mr. Saeed Ahmed have been placed by the JIT on Exit Control List. It is requested that their names may continue to remain on the list till a decisions of the Honorable Court is announced. Analysis of Documents /Record Presented: The JIT invariably directed all witness to submit documents /records for the purpose of the establishment the money trails and understanding the underlying transactions pertaining to loans, procurements of properties, transmitting gifts etc, that have surfaced over the court course of the investigation process. However selective documents/ records have been furnished they are severely lacking in substance. The respondents have 6 declined to produce further document/record and have also denied access to any information that ha JIT could obtain through formal channels with the consent of the witnesses. Collection of the case Material: Following records were obtained from various departments to further the investigation: All relevant material/information field in Honorable Supreme Court of Pakistan in Panama Case; Banking record from State Bank of Pakistan and other commercial banks including bank account details and bank statements of all individuals associated with Panama Case; FBR record including Income Tax Returns, Wealth Statements and Wealth Tax Returns of Respondents and others associated with the case; Companies record from SECP including old cases; Record of all case/inquires pending/ongoing in NAB and FIA; Record of assets declaration of public office holders in nominated papers from ECP; It would also be pertinent to mention that most of the departments/ governments institutions although provided the record asked for, however, it was provided selectively and in parts. Despite repeated reminders, FBR remained elusive with reference to the provision of complete Tax Returns of Mr. Ishaq Dar till the time he appeared before the JIT. 7 Mutual Legal Assistance (MLA) Requests: Issuance of MLA Requests Consequent of the issuance of the Notification on the direction of the Honorable Supreme Court of Pakistan authorizing the Chairman, JIT to exercise the powers enumerated in section 21 of the NAO, 1999, the following MLA Requests have been initiated: Attorney General, British Virgin Islands; 3 requests Home office, UK Central Authority; 7 requests Ministry of Interior, Kingdom of Saudi Arabia; 1 requests Ministry of Justice, United Arab Emirates; 7 requests Central Authority, Switzerland; 2 requests and Prosecutor General, Luxemburg; 1 request Response to MLA Requests The following jurisdiction has thus far responded to the MLA Requests: Attorney General, British Virgin Islands; 1 request Ministry of Justice, United Arab Emirates; 4 requests Investigation /collection of evidence from abroad The JIT hired the services of a UK based solicitor firm namely; QUIST, London to pursue the MLA Requests, arrange forensic investigations, render legal advice and assist in collection and dispatch of relevant record/documents. An investigative firm was hired in UK to acquire relevant documents/record; A team of 2 JIT Members visited U.A.E to investigate and acquire relevant record/evidence related to interest /involvement of Sharif Family in business in Dubai with special emphasis on affairs of Capital FZE. 8 A solicitor firm of BVI was hired to pursue /investigate the queries related to BVI raised in the relevant MLA Requests. An acclaimed handwriting expert namely, The Radley Forensic Document Laboratory, Forensic Handwriting& Document Examination Experts was hired to analyze and comment on the documents produced by the witnesses pertaining to the UK jurisdiction.