The federal capital is rife with speculation that British authorities have submitted some damning information to Pakistani authorities under the Mutual Legal Assistance agreement with respect to assets held and money transactions by Hussain Nawaz though they have refused to give information on Hassan Nawaz as he is a British national.
Reports also indicate that assets and money transactions of Hussain Nawaz are now being investigated by Saudi Arabian and United Arab Emirates authorities, which has further multiplied the problems facing the Sharif family.
However, the United Kingdom early this year gave new powers, referred to as unexplained wealth orders, which allow law enforcement to demand from any individual holding more than 50,000 pounds to explain the origin of his wealth. The objective is to crack down on the 90 billion pounds held by the world's elite who took advantage of UK's low regulation financial culture. Avenfield flats held by the Sharif family are reportedly on the list submitted by Transparency International to the British government to investigate.
PML-N Secretary Information Senator Mushah-idullah Khan while talking to Business Recorder rejected reports of any investigation against Hussain and Hassan Nawaz in any country - including the UK, Saudi Arabia and the UAE.
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