Jahangir Tareen gets relief in money laundering case

LAHORE: Judicial magistrate of Lahore on Friday ordered to quash the money laundering case registered against Jahangir Tareen and his Ali Tareen, ARY News reported.

The orders were passed by the judicial magistrate in light of the report submitted by the Federal Investigation Agency (FIA). 

The FIA investigation officer submitted a report in the court of the judicial magistrate of Lahore on the charges of money laundering against Jahangir Tareen and his son Ali Tareen.

The FIA in its report stated that allegations of money laundering were not proved in the inquiry, all the transactions were done in accordance with the Security Exchange Companies of Pakistan Act.

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

The allegations against Jahangir Tareen and Ali Tareen are not true as the accused have provided documentary evidence regarding the transactions of all the amounts.

The FIA 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.