Events leading up to Nawaz Sharif’s ouster

In this photo taken on December 4, 1999, shows deposed Pakistani Prime Minister Nawaz Sharif (R) and his brother Shahbaz Sharif (L) waving at supporters outside the courthouse in Karachi as they make their first public appearance together since the 12 October Military bloodless coup. (AFP)
Updated 29 July 2017
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Events leading up to Nawaz Sharif’s ouster

l April 4, 2016 — The Panama Papers show involvement of Sharif’s family in offshore companies.
l April 22, 2016 — Sharif asks the Supreme Court to form a commission to investigate the Panama leaks after pressure from the opposition.
— Cricketer-turned-politician Imran Khan demands an independent probe by the high court itself.
l April 24, 2016 — Khan threatens protests against Sharif and says the prime minister had lost “moral authority” to rule.
l May 16, 2016 — Sharif proposes parliamentary commission probe into the scandal; opposition walks out.
l Oct. 28, 2016 — Khan accuses government of placing him under virtual house arrest; supporters fight police ahead of plan to shut down capital in protest.
l Nov. 1, 2016 — Khan backs down from a threat to paralyze capital with a “lockdown” after violence breaks out with many of his supporters injured and the Supreme Court agrees to hear arguments to form a commission to investigate Sharif.
l Nov. 2, 2016 — Supreme Court agrees to set up a judicial commission to probe corruption allegations against Sharif, stemming from Panama Papers leaks.
l April 20, 2017 — Supreme Court rules there was insufficient evidence to order Sharif’s immediate removal but orders a Joint Investigation Team to look further into the source of his family’s wealth.
l July 11, 2017 — Judicial investigators rule Sharif’s family accumulated unusual wealth; allies denounce findings.
l July 27, 2017 — Longstanding political ally and Interior Minister Nisar Ali Khan says he would quit once top court rules on corruption allegations, regardless of the verdict.
l July 28, 2017 — Sharif resigns after court rules him unfit to hold office and orders more criminal investigations into his family. Court says it disqualified Sharif for not declaring income from a company in UAE, which was not in original Panama Papers revelations.


Ex-Goldman banker to finish Malaysia legal process before US extradition

Updated 31 min 10 sec ago
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Ex-Goldman banker to finish Malaysia legal process before US extradition

  • Goldman’s role is under scrutiny as the Wall Street titan helped arrange $6.5 billion in bonds for 1MDB
  • Authorities in Malaysia and the US accuse former employees of bribery and stealing billions of dollars

KUALA LUMPUR, Malaysia: A former Goldman Sachs banker accused of involvement in the multi-billion-dollar 1MDB scandal will only be extradited to the United States after legal proceedings against him in Malaysia are completed, a minister said.
Huge sums of public money were purportedly stolen from Malaysian state fund 1MDB and used to buy everything from yachts to art in a scheme that allegedly involved former premier Najib Razak and contributed to his government’s election defeat.
Goldman’s role is under scrutiny as the Wall Street titan helped arrange $6.5 billion in bonds for 1MDB. Authorities in Malaysia and the US accuse former employees of bribery and stealing billions of dollars, and investigators believe cash was laundered through the US financial system.
Malaysian Ng Chong Hwa, a former managing director at the bank, was indicted in November when US authorities also lodged an extradition request. He has been in custody in Malaysia since the US indictment.
Malaysia also filed charges against Ng, more commonly known as Roger Ng, as well as Goldman.
At a court hearing last week, Ng agreed to stop fighting the extradition request and said he wanted to be sent to the US within 30 days.
But Malaysia’s government must approve his extradition, and Interior Minister Muhyiddin Yassin said Ng’s case in Malaysia must go ahead first.
“We will honor the extradition but we will prioritize the case in Malaysia until it is completed. This is the advice of the attorney-general, and we will abide by it,” Yassin said.
Ng’s case will likely come before the Malaysian courts again next month, he said.
Ng was charged in Malaysia in December with four counts related to 1MDB, and has pleaded not guilty. He faces up to 40 years in jail if convicted.
As well as Ng, former Goldman partner Tim Leissner and the bank’s subsidiaries are also accused of making false statements in order to steal billions of dollars, and of bribing officials.
Leissner has already pleaded guilty in the US to 1MDB-linked charges.