KARACHI: National Accountability Bureau (NAB), has authorized an investigation against former Sindh Minister Sharjeel Inam Memon on the allegations of assets beyond known sources of income and money laundering.

The investigation is authorized in compliance with Chairman NAB initiative, "Zero Tolerance against Corruption", said a statement issued here on Monday.

Sharjeel Inam Memon being public office-holder, former Minister for Information and Archives, Local Government and Work and Services Department, Govt of Sindh, has, in his aforesaid capacities allegedly committed an offence of corruption and corrupt practices as defined in section 9(v) of NAO 1999 that "he possess or his dependents or Benamidars has acquired right or title to assets or holds irrevocable powers of properties.

These properties include 270 acres agricultural land in the name of accused and mother worth more than Rs 300 million, Rs 1.08 billion money laundered outside Pakistan, Rawal Farm House more than Rs 1 billion.

Cotton Factory in District Hyderabad of worth Rs.10 Crore, three plots in DHA in the name of mother worth of more than Rs 21 crores, flats and villas in the name of Sharjeel Inam Memon and his wife and six plots in SITE area Karachi in the name of Izhar Hussain (PS), Subhan (driver) and Agha Ahsan (property agent).