ISLAMABAD: The Federal Investigation Agency (FIA) has directed Jahangir Tareen and his son Ali Tareen to reappear before the agency on April 09 in separate cases, ARY NEWS reported on Tuesday.
The FIA summoned Jahangir Tareen in two cases and Ali Tareen in a case over allegedly defrauding the shareholders.
The FIA notice read that Ali Tareen along with his father had defrauded the shareholders.
The agency directed Ali Tareen to bring answers to five questions with him which included the reason for selling JKFSL’s sugar business, the advertisement for the sale, the number of bidders who showed their interest in the process, and the quoted rates.
The FIA notice further noted that as per company records JKFSL encountered losses of Rs326 million, however, despite suffering huge losses, it sold out its sugarcane business to JDW on higher profits.
Ali Tareen was also asked to bring an assessment through which the sugar-related business of the JKFSL was sold out in Rs4.35 billion. “Also bring money trail of how Rs4.35 billion was later utilized,” the FIA notice directed the son of Jahangir Tareen.
On March 31, the Federal Investigation Agency (FIA) filed two FIRs against Jahangir Tareen and two other family members in the 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.
“Over three billion rupees money laundering made by showing investment in a closed factory,” according to the FIR.
The investigation agency has also charged Tareen and others for illegal hoarding of sugar, misappropriation and cheating in the FIR. CEO of JWD Sugar Mills in an act of forgery transferred 3.14 billion rupees to a closed company, the FIR read.