Chaudhry Sugar Mills case: LHC grants bail to Yousaf Abbas

LAHORE: The Lahore High Court has granted bail to Yousaf Abbas, cousin of Pakistan Muslim League-N Vice President Maryam Nawaz in the Chaudhry Sugar Mills case.

LHC Justice Baqir Najfi heard the case in which the judge granted Yousaf Abbas bail and ordered to submit two indemnity bonds worth Rs. 10 million.

Abbas was co-accused with Maryam Nawaz in the same case. Both were arrested on 8th August last year NAB in the same case.

The Sharif family has been accused of using Chaudhry Sugar Mill’s case for money-laundering and illegal transfer of its shares. Accused Yousaf Abbas and Maryam Nawaz were arrested in August by the NAB in the Chaudhry Sugar Mills case.

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According to the NAB, transactions worth millions of rupees were made under Chaudhry and Shamim mills.

Rs 7 million worth of shares were transferred to Maryam Nawaz in 2008 through mill’s shares, which were later transferred to Yousaf Abbas Sharif in 2010.