Pakistan's former PM Nawaz Sharif has suffered a major setback after being sentenced to ten years in prison. The jail term comes following the probe into his wealth after his name was mentioned in the infamous Panama Papers. Sharif was ordered by the Supreme Court to vacate the office of the Prime Minister last year, following which Shahid Khaqan Abbasi was elected as the new PM. While Sharif was not named in the papers, three of his kids' names made it to the list.
Sharif has been sentenced to ten years in prison and has been instructed to pay a fine of £8 million. His daughter Mariam Nawaz, on the other hand, has been sentenced to seven years in prison, and a fine of £2 million has been levied on her. Her husband has also received a one-year jail sentence.
This is a welcome move from Pakistan’s judiciary. In light of the same, let's revisit the facets and names that cropped up in our own country. The leaks indicated some big names from Bollywood, including the likes of Amitabh Bachchan, Aishwarya Rai Bachchan and Ajay Devgn.
As per the Panama Papers, Ajay Devgn had over 1000 share Marylebone Entertainment Ltd. which he purchased in the name of Nysa Yug Entertainment. On the other hand, Amitabh Bachchan was alleged to be the director of four offshore companies, while daughter-in-law Aishwarya Rai Bachchan's involvement in a company for at least three years, came to the foray.
Bachchan, however, denied all allegations. He said, "I do not know any of the companies referred i.e. Sea Bulk Shipping Company Ltd, Lady Shipping Ltd, Treasure Shipping Ltd, and Tramp Shipping Ltd. I have never been a director of any of the above-stated companies. It is possible that my name has been misused. I have paid all my taxes including on monies spent by me overseas. Monies that I have remitted overseas have been in compliance with the law, including remittances through LRS, after paying Indian taxes."
Amidst all the blame-games, allegations and denials, let's hope that the truth is revealed.