Published On: Tue, Apr 5th, 2016

Panama Papers Leak Unveils Nawaz Sharif’s Overseas Holdings

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Panama Papers Leaks have revealed so many renowned celebrities’ secret assets, in which Pakistani current Prime Minister Mian Mohammad Nawaz Sharif also reported, his sons and daughter, these owned about four overseas companies in British Virgin Islands (BVI).

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PM Nawaz Sharif has children, Mariam Safdar, Hussain and Hasan Nawaz Sharif who also have the ownership of six up-market properties overlooking Hyde Park of London.

After assessment of thousands of Mossack Fonseca (MF) documents, was revealed the 12th PM of Pakistan family mortgaged four of these properties to the Deutsche Bank (Suisse) SA for a loan of £ 7 million and the Bank of Scotland fraction financed the buy of two other apartment buildings.

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However, the Pakistani media had approached some of these BVI companies and London properties linking Sharif family though like other corrupt politicians, Pm Sharif has also refused offshore holdings.

While the children of Sharif as Hussain and Hasan and Mariam Safdar didn’t respond so far over the queries, while Nielson Holdings Limited and Nescol Limited and Nielson Holdings Limited were also respectively added in BVI in 1993 and 1994 even were held by one bearer share each.

As the sole (bearer) shareholder, daughter of Mian Mohammad Nawaz Sharif signed a resolution of Nescol Limited in February 2006. Although MF was elected as the registered representative through Minerva Trust that marked out Mariam as the valuable holder of both firms.

One the other side BVI law firm Farara Kerins released two legal opinions in August 2008, when it comes to Nescol’s property that showed off leasehold properties of 17… and 17A Avenfield House, 117 to 128 Park Lane, London, W1K 7AH and car parking space 9 and box room 6 though these were registered with Title Numbers NGL342976 and NGL342977.

Nielson’s property also indicated two titles of 16 and 16A Avenfield House.

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