FIA Lahore registered cases against CEO of JWD Sugar Mills, Jahangir Tareen, his son Ali Tareen and 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.
“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.
The FIA in another FIR charged that Amir Waris, a confidante of Tareen, made illegal transactions from the company accounts and drawn over two billion rupees. Waris illegally deposited the amount in personal accounts of Jahangir Tareen and his family members.
“During the inquiry a fake account was also found, which was used for around six billion rupees illegal transactions,” FIR read. “The fake account was used for transactions in accounts of various companies of Jahangir Tareen.”
“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”.
Rana Naseem has claimed that the transactions were made for payment of salaries and bonuses, while the company was in deficit for last five years, according to the FIR.
The FIA has charged in the FIR that Jahangir Tareen, Amir Waris and Rana Naseem have been involved in money laundering.
It is to be mentioned here that the FIA Lahore office had summoned the representatives of sugar mills’ managements from March 31 (today) and directed them to bring relevant records of sugar stocks sold through the betting mafia from November 2020.
The sugar mills have also been directed to produce the record of sugar stocks that were declared sold before the Federal Board of Revenue (FBR) from November 1, 2020, as well as providing details of all corporate and ostensible bank accounts owned by the sugar mills. The records of all TTs (telegraphic transfers) were also demanded from the mills.
The agency had also issued call-up notice to JWD Sugar Mills of Jahangir Tareen on April 2.
Earlier on March 24, it emerged that the Federal Investigation Agency (FIA) had formed 20 teams to launch a massive crackdown under the anti-money laundering law against the sugar mafia.
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