RAW Asset Madhu Bhindari, the Indian Hindu Billionaire who invested money in Dubai with Pakistani politicians
Bhindari’s assignment is to influence Dubai based and junket loving Pakistani Politicians keep Demonizing Pakistan’s Armed Forces in Pakistani Press, Media, and Parliament.
Sources further told The News Tribe that the story does not end here; another Finance Minister from the Nawaz Sharif Government, made hundreds of real estate transactions with Madhu Bhindari, an Indian billionaire entrepreneur, who is on a run-away from Dubai, after losing 150 million dirhams in the 2008 crisis. However, the finance minister’s buildings and investments are still there, earning a hefty income.
A Pakistani real estate agent, who claimed to carry out transactions for a serving government officer in Sindh Government, told The News Tribe that a lot of Pakistani bureaucrats and politicians have properties worth millions in Dubai.
“The son of a serving government officer from Sindh government invested a huge amount of money in real estate here in 2008, and I carried out transactions for him,” the agent claimed.
“Where are these politicians getting the money from?” asked a frustrated Pakistani in Dubai, who came to know that the building he lived in is owned by Ali and Hasnain Dar’s HDS Group.
“If they have billions of dollars and so much money, why is it not in Pakistan? These politicians talk about the welfare of Pakistani people, but all they can think about is themselves!”
Previously, Director Swiss Bank had stated that Pakistan has around 97 billion dollars only in Swiss Banks. But, it seems that Pakistani politicians and businessmen have more than 97 billion dollars outside Swiss Banks, invested in various countries and financial hubs like Dubai.
According to the Swiss Bank director, if the money is utilized for the welfare of Pakistan and its people, then Pakistan can make tax free budget for next 30 years, can create 60 million jobs, can carpet four lanes road from any village to Islamabad, provide endless power supply, every citizen can earn Rs. 20,000 salary for the next 60 years and there is no need to take loans from IMF or World Bank.
Nawaz Sharif who awards road contract at five times the actual cost and yet the roads are never completed is very corrupt like the Rawalpindi -Peshawar Motorway.
Capitalism’s Achilles Heel
Raymond W Baker.
The book is a dossier on the corruption of most dominated political families in the history including Nawaz Sharif and how they accumulated their properties, factories and enormous wealth.
According to the book, at least $160 million were pocketed by Nawaz Sharif during his first stint as the Prime Minister in the 1990, from a contract to build a highway from Lahore, his home town, to Islamabad, the nation’s capital.
At least $140 million in unsecured loans from Pakistan’s state banks. More than $60 million generated from government rebates on sugar exported by mills controlled by Mr. Sharif and his business associates.
At least $58 million skimmed from prices paid for imported wheat from the United States and Canada. In the wheat deal, Mr. Sharif’s government paid prices far above market value to a private company owned by a close associate of his in Washington, the records show. Falsely in?ated invoices for the wheat generated tens of millions of dollars in cash.
The book review went on to state that “The extent and magnitude of this corruption is so staggering that it has put the very integrity of the country at stake.”
Under Sharif, unpaid bank loans and massive tax evasion remained the favorite ways to get rich.
Upon his loss of power the usurping government published a list of 322 of the largest loan defaulters, representing almost $3 billion out of $4 billion owed to banks. Sharif and his family were tagged for $60 million.
Like Bhutto, offshore companies have been linked to Sharif, three in the British Virgin Islands by the names of Nescoll, Nielson, and Shamrock and another in the Channel Islands known as Chandron Jersey Pvt. Ltd. Some of these entities allegedly were used to facilitate purchase of four rather grand flats on Park Lane in London, at various times occupied by Sharif family members.
In 1999 Musharraf had Sharif probed, tried, convicted, and sentenced to life in prison, but then in 2000 exiled him to Saudi Arabia. Twenty-two containers of carpets and furniture followed, and, of course, his foreign accounts remained mostly intact. Ensconced in a glittering palace in Jeddah, he is described as looking “corpulent” amidst “opulent” surroundings.