Parvez Elahi’s ‘frontman’ denies FIA claims of money laundering

LONDON: Lawyers acting for an offshore company have written to Pakistan’s Federal Investigation Agency and a Lahore trial court disputing the findings of the FIA about General Mediterranean Holding SA offshore company that has been linked to Pakistan Tehreek-e-Insaaf (PTI) President Parvez Elahi and his son Moonis Elahi in relation to the ongoing money laundering investigation against them.

The letter, addressed to the FIA and to the Lahore trial court, stressed that the FIA’s conclusion is false that offshore shell General Mediterranean Holding SA SPF was incorporated by British Pakistani businessman Muhammad Naseer Khan’s son Gibran Khan, who is a British national.

The FIA has alleged in its money-laundering case that former federal minister of Pervez Musharraf’s cabinet Naseer’s son Gibran is a frontman of Elahi, the former Punjab chief minister and his son Moonis, the ex-federal minister during previous Imran Khan-led government.

General Mediterranean Holding’s name and its ownership by Gibran was disclosed first during the Panama Papers scandal but six years later the FIA announced to investigate it after the arrest of Elahi.

Gibran’s lawyers as well as the offshore company have disputed allegations of money laundering or of acting as frontman for the Chaudharies. Company records show that General Mediterranean Holding SA was incorporated in Luxembourg on January 16, 1979 when Gibran was three years old and the same has been written by General Mediterranean Holding to the Pakistani authorities.

The letter further says that the “three persons' names as supposed owners/beneficiaries of the offshore company, namely Mr Pervez Elahi, Moonis Elahi and Mr Gibran Khan is incorrect as they have no connection with General Mediterranean Holding SA SPF whatsoever”.

Gibran’s name appears in the FIA Lahore Anti-Money Laundering Circuit’s case against the father and son duo, with allegations that Naseer’s son is not only personally involved in corruption, bribery and money laundering but also facilitated Moonis and his father who have both served as public office holders.

While Elahi has been in custody for more than a month, the FIA has alleged that he and his son were involved in corrupt practices and that the proceeds were laundered by the accused through his alleged frontman Gibran who was the CEO of M/S Agro Tractor Private Limited established in 2004 for allegedly disguising crime proceeds of corruption and bribery and that sham offshore companies were established and the ill-gotten money was transferred from Pakistan to foreign offshore companies through hawala/hundi and then again invested in the companies established in Pakistan to whiten black money. The FIA links Eigile Holding Limited, Agro Tractors Limited, Renmar Holdings Limited, Ludo Estate Inc, Makar Real Estate SA and Goreshire SA with Gibran, Moonis and Pervez Elahi.

The FIA challan says: “General Mediterranean Holding SA was purposefully made by Gibran Khan, the then CEO of Agro Tractor for hiding the actual owner/shareholder of the company working on behalf of the co-accused persons: Moonis Elahi and Pervez Elahi who were the real owner as well beneficiary of these companies.”

General Mediterranean Holding says on its website it deals in real estate, hospitality, healthcare, energy, finance and media. It has a registered office in London.

When approached by Geo, both Gibran Khan and Moonis denied FIA’s allegations. Gibran said: “It’s ludicrous that the FIA accused me of setting up a company when I was only three years old. All my business dealings and transactions are declared and a matter of record under my own name and based on how we have built up our legitimate businesses.”