Tareen, son’s bail extended in money laundering case
LAHORE: A banking court on Saturday extended the bail of PTI leader Jahangir Tareen, his son Ali Tareen and others till May 3 in a money laundering case.
Accompanied by over two dozen Punjab lawmakers from the ruling PTI, Jahangir Tareen and his son appeared for the extension of the bail in the money laundering case. Judge Ameer Muhammad Khan heard the case.
The PTI leader’s lawyer informed the court that the Federal Investigation Agency (FIA) sent them a call-up notice on April 14 and sought various records. His client couldn’t provide the records at a day’s notice, he added and vowed to provide the same on April 19.
The court directed the FIA to complete the investigation into the case at the earliest.
The FIA have registered two separate cases against father, son duo over the charges of committing fraud and money-laundering worth Rs3.14 billion.
The cases against them were registered under PPC Sections 406 (criminal breach of trust), 420 (cheating of public shareholders) and 109 of the Pakistan Penal Code (PPC), read with Sections 3/4 of the Anti-Money Laundering Act.
“Over three billion rupees money laundering made by showing investment in a closed factory,” one of the FIRs said. The investigation agency has also charged Tareen and others for illegal hoarding of sugar, misappropriation and cheating in the FIR.