Wrapping it up
Cases of suspected money laundering, involving offshore accounts and shell companies, are about as open and shut as they come in most instances. The fallout of the great ’08 international market crash redefined rules, to a considerable extent, that govern secrecy laws in these ‘treasure islands’ where these notorious offshore companies are located. Till a few years ago it was not the bank or company’s business whether deposited monies were black, white or vegetarian. Their job was to file them neatly under numbered accounts and let the proceeds fall where they may.
Now it’s slightly more complicated. Governments and institutions can, fairly easily, request and scrutinise cash flows of companies/accounts under question. That, for some reason, has not yet happened in the landmark proceedings underway at the honourable Supreme Court, even though in most such cases the black-and-white of the cash flow is the starting point. Also, the double talk and contradictions that dominated the run up to the case have not ended. If anything some instances, very strangely, are being justified. And fresh points are being made only to be regretted and retracted. Then there’s the other war outside the courtroom; the press conferences that follow daily proceedings.
Very little is clear at this point. Some say PTI’s already botched the argument for disqualification. But if the money trail is studied, and it will have to be eventually, and there proves to be some suspect financial transfer, some remarks will not appear so off-the-cuff anymore and drawing room opinions will need very quick revision. Also, the PML-N team is about to make one last attempt at tying their loose collective narrative together. So far the Sharifs have not done a good job, to put it mildly, of presenting their case. Fortunately the Supreme Court has decided to go ahead with the Panama business at full speed. It cannot be long, therefore, before the dust settles. And, most likely, a lost more than just the ownership of properties and transfers from friends are going to be laid bare one way or the other.