Spain Freezes Four Benazir Bhutto Bank Accounts, Launches Money Laundering Investigation

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Thursday, June 1, 2006
Author: 
Bruce Zagaris
Volume: 
22
Issue: 
6
219
Abstract: 
Following a mutual legal assistance request by Pakistan’s National Accountability Bureau (NAB), Spanish law enforcement authorities froze four bank accounts, two offshore companies in Spain, and a villa in Playas Del Arenal. In addition to the freezes, the Spanish government is now examining a trail of money leading from Spain back to a number of Swiss banks, and the High Court of Valencia has appointed an Examining Magistrate to investigate the affairs of some members of the Bhutto family. Spanish authorities have frozen two offshore companies – M/s Petroline FZC and M/s Tempo Global Gains FZC – as well as bank accounts connected to the companies and a villa in Valencia owned by Benazir and her family. The High Court of Valencia has authorized the office of the Public Prosecutor of Valencia, if warranted, to prosecute Bhutto and persons associated with her.