Fraud, money-laundering allegations: FIA grills Jahangir Tareen

ISLAMABAD: Estranged Pakistan Tehreek-i-Insaf (PTI) leader Jahangir Khan Tareen appeared before the Federal Investigation Agency (FIA) in alleged fraud and money laundering cases on Friday.

Accompanied by his company secretary Maqsood Malhi, Tareen appeared before the FIA’s investigation team. Earlier today, his son Ali Tareen appeared before it and was quizzed for over one and a half hour.

Also Read: Jahangir Tareen’s son appears before FIA probing into sugar scandal

The FIA have registered two separate cases against father, son duo over the charges of allegedly 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.

Also Read: Over 35 bank accounts of Jahangir Tareen, family frozen

“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.

CEO of JWD Sugar Mills in an act of forgery transferred 3.14 billion rupees to a closed company, the FIR read.

“In year 2011-12 over three billion rupees were transferred to Farooqi Pulp Milk Ltd,” according to the case. In year 2011-12 Tareen and family members also purchased dollars from the open market. His nominees transferred over seven million dollars to overseas for purchase of properties,” according to the FIR.