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PAC document reveals NAB’s stance on Broadsheet scam Top Story January 31, 2021 ISLAMABAD: An official document of a sub-committee of the Public Accounts Committee (PAC) reveals for the first time NAB’s official position on how and on whose recommendation and approval US$ 1.5 million was paid to a person who later turned out to be a fake representative of Broadsheet LLC. The document, which contains NAB’s response to the PAC over an audit para raised by the Auditor General of Pakistan, reveals that the Bureau claimed that the payment to Broadsheet LLC (Colorado) was made with the approval of the then prime minister Yousaf Raza Gillani. There was also direct liaison between the then minister of law Farooq H Naik, chairman NAB Naveed Ahsan and Ahmer Bilal Soofi, an international law expert, regarding this matter. ....
• Says anti-graft body gave rise to ‘tortuous liability’ • Aug 2016 award released by govt following Moussavi controversy ISLAMABAD: A deliberate decision was made by the National Accountability Bureau (NAB) to disregard the known risk of economic harm to the Broadsheet LLC, as the claimant submits, to turn a blind eye to damages that would or might be caused to the Broadsheet by entering into May 20, 2008 Settlement Agreement with Jimmy James and his Colorado companies or in making payments to them, stated Sir Anthony Evans through his Aug 2016 final award determining the liability issues. “I hold, that was reckless conduct by NAB which give rise to tortuous liability, as alleged,” held Sir Evans, adding that evidence establishes that those who took the executive decision on behalf of NAB to enter into the settlement agreement believed that the Broadsheet was in liquidation and that the liquidator was not a party to the negotiations by accepting Jimmy Jame ....
Broadsheet paid commission on recoveries not made yet Top Story January 19, 2021 ISLAMABAD: Around 98 percent of the total amount, paid to Broadsheet, is under the head of recoveries that NAB has neither made yet, nor there is any definite chance of doing so, as in certain cases the accused have been acquitted, and in other cases, the verdicts have not attained finality. The major part of the payment – $20.50 million – was made under the head of “projected recovery” from the Sharif family. In two other cases – Aftab Ahmed Sherpao, Jamil Ansari (associated with Admiral Mansoorul Haq case), Broadsheet had shared the information, but NAB did not take action. The judge had ordered 20 percent commission for the assets’ recovery firm. While Sherpao was acquitted notwithstanding his account of $3.5 million was traced in Jersey Island, information of Jamil’s bank account containing $5 million was not used to proceed against him at time and he later came out ....
Adviser to the Prime Minister on Accountability Shahzad Akbar all the proceedings of the arbitration over Broadsheet’s claim had been held during the last two governments of PPP and PML-N. APP/File ISLAMABAD: The controversy over UK-based asset recovery firm Broadsheet LLC echoed in the Senate on Monday, with Adviser to the Prime Minister on Accountability Shahzad Akbar chiding the PPP for making $1.5 million payment to a wrong company and the PML-N for keeping the August 2016 decision of the award in the Broadsheet case a secret. Speaking in the Senate, Mr Akbar said the reason for the secrecy was obvious as Broadsheet had been paid $20.5m for the information the company had gathered about the Sharif family’s ill-gotten assets, including the Avenfield property. ....