CFO JWD sugar mills gets interim bail in sugar scam
- By Web Desk -
- Apr 01, 2021
LAHORE: Banking court on Thursday granted interim bail to Chief Financial Officer (CFO) JWD sugar mills, Rana Naseem Ahmed in sugar scam and money laundering charges, reported ARY News.
Rana Naseem Ahmed moved banking court after the Federal Investigation Agency (FIA) team probing sugar scam registered a case against Jahangir Tareen, his son Ali Tareen and him.
The JWD CFO pleaded innocent before the court in his plea and added he has nothing to do with the hike in sugar price. The court after hearing arguments reserved its decision.
Later, banking court judge Ameer Ahmed Khan, while granting interim bail to Rana Naseem, ordered him to submit a surety bond of Rs0.5 million.
The court has also barred FIA from arresting the accused.
Read more: FIA files case against Jahangir Tareen in sugar scam, money laundering
On Wednesday, the Federal Investigation Agency (FIA) had filed two FIRs against Jahangir Tareen and two other family members in sugar scandal and money laundering charges.
FIA Lahore registered cases against CEO of JWD Sugar Mills, Jahangir Tareen, his son Ali Tareen and his son-in-law in the sugar scam.
“The probe found that the company’s chief Rana Naseem acted as main aide and made over 600 million rupees transactions from JWD’s accounts”.