Islamabad (November 18, 2017): Although, the Supreme Court had concluded hearing a disqualification case against Pakistan Tehreek-i-Insaf Chairman Imran Khan and secretary-general Jahangir Tareen and reserved its judgment on the matter but Tareen’s trust deed, submitted in the apex court raised many questions.
Sources said that Jahangir Tareen did not submitted complete financial details of his business. His Trust Deed’ has raised several questions about Tareen’s various versions around his £7 million Hyde House on Newbury, UK. 
The 38-page trust deed of Pakistan Tehreek-e-Insaaf (PTI) leader Jahangir Khan Tareen’s offshore trust was signed and formalised in Geneva, Switzerland, and facilitated by HSBC Guyerzeller Trust Company Geneva, raising questions about Swiss bank accounts.
Interestingly, HSBC Guzerzeller Trust Company of Switzerland finds extensive mention in Panama Papers report of International Consortium of Investigative Journalist {ICIJ}. The banking group HSBC and its subsidiaries alone account for more than 2,300 of the 15,600 shell companies created by the Panama-based firm over nearly four decades.
This vital fact recorded on the last page of the trust deed raises strong suspicion that Tareen holds or held Swiss Bank accounts. A chartered accountant, who advises on offshores shells and trust, said that someone who doesn’t have a Swiss account wouldn’t get services of Swiss bankers to get his offshore trust registered and that too in Geneva. He said Shiny View Limited of Tareen is registered in British Virgin Island (BVI) and Hdye House property, being debated and scrutinised in Supreme Court, is located in United Kingdom.
The HSBC Guyerzeller Trust Company SA operates as a subsidiary of HSBC Private Bank (Suisse) SA. This is located in Switzerland, in the heart of financial and private banking district of Geneva.
This further strengthens the fact that sponsors of offshore trust, formed to park the £7 million Hyde House in Berkshire UK, have well entrenched Swiss business and banking connections.
This also highlights the fact that Tareen did not present the detailed banking record of overseas bank in UK (or Switzerland) in the Supreme Court to avoid giving insight into how the funds reached in Shiny View Limited’s account, how these funds were used and whether funds from any country or source were also deposited in this account, including from Switzerland and Canada. Tareen’s lawyer has been repeatedly highlighting that funds went out of Pakistan through legal channels but never produced overseas bank details.Another very interesting aspect of Jahengir Tareen’s offshore ‘Trust Deed’ is that it is registered in St Helier Jersey, The territory is often considered a major world offshore financial haven for super wealthy individuals. Imran Khan’s Niazi Services Limited was also registered in channel Island St Helier Jersey.
Another key fact revealed by analysis of Jahengir Tareens trust deed is that the trust provisions clearly show that he practically controls the trust. Hence its non-declaration with Election Commission of Pakistan (ECP) and FBR is seen as indefensible for the PTI leader.
In schedule IV of the trust deed, the beneficiaries are mentioned, other than the discretionary lifetime beneficiaries (Tareen & wife). This schedule in para one contains name of Jahengir Tareen’s wife. Tareen through out court proceedings has been arguing that he is not a beneficiary of the trust but his children are but in the trust deed his wife is also mentioned as a ‘Beneficiary’.
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