Chaudhry Sugar Mills is major corporate fraud of Sharif family: PM's aide.

ISLAMABAD -- Special Assistant to Prime Minister on Accountability, Shahzad Akbar, said on Thursday that Chaudhry Sugar Mills is a major corporate fraud of Sharif family for money laundering, media reported.

While addressing a press conference in Islamabad today, Shahzad Akbar said the members of Sharif family had laundered money through Chaudhry Sugar Mills.

'Money had been transferred from the bank account of new Islamabad airport to Chaudhry Sugar Mills. It is a major corporate fraud.'

'A fake company was established by name Chadron and acquired loan of $15 million while the loan and machinery have not arrived in Pakistan. The loan was not returned but it was waived after Nawaz Sharif came into power as the then prime minister. Sharif family has not given related documents to any investigation institution so far.'

He further said, 'The contract for the construction of new Islamabad airport had been awarded to a relative of Nawaz Sharif. Fake telegraphic transfers (TTs)...