LAHORE: A banking court has extended the bail of Jahangir Tareen and his son Ali Tareen in different cases of money laundering and financial fraud, ARY News reported on Saturday.
A banking court in Lahore conducted the hearing of bail petitions filed by Jahangir Tareen and Ali Tareen today. The accused in the sugar scandal have appeared in the hearing along with six lawmakers from the National Assembly (NA) and 21 legislators from the provincial assembly.
During the hearing, Tareen’s counsel told the court that his client and his son appeared before the Federal Investigation Agency (FIA) after being summoned in connection with an investigation. He added that it seems that FIA will summon them again.
He pleaded with the court to grant bail to them for a long period due to the current situation of the coronavirus pandemic.
Read: Fraud, money-laundering allegations: FIA grills Jahangir Tareen
The additional district and sessions judge Hamid Hussain questioned the FIA lawyer whether it has any objections to the authority of the court. The lawyer replied that the institution has no objections over it and said that the court should order the accused to join the investigation.
The judge remarked that FIA must have told the court regarding the role of each accused and the investigation should be made transparent. He also directed all accused to join the probe launched by the FIA.
The FIA lawyer apprised the court that Jahangir Tareen is the owner of JWD Sugar Mills and the initial investigation traced illegal transactions worth billions in the bank accounts of Jahangir Tareen and his son.
He added that the accused are also facing allegations of their role in an artificial increase in sugar prices. The case had been registered against them under the sections of corporate fraud and money laundering. It is pertinent to mention here that the banking court had summoned the report from FIA.
Read: Over 35 bank accounts of Jahangir Tareen, family frozen
Later, the banking court extended the bail of Jahangir Tareen and Ali Tareen till April 22. The hearing was adjourned.
A banking court has also heard the bail plea of Jahangir Tareen where the estranged leader of the Pakistan Tehreek-e-Insaf (PTI) appeared with six NA lawmakers and 21 legislators of the provincial assembly.
The banking court’s judge Ameer Muhammad Khan conducted the hearing of the bail petitioned filed by JWD CEO Jahangir Tareen. The court extended Tareen’s bail till April 17 and adjourned the hearing.
Earlier on April 3, the banking court had granted interim bail to CEO JWD sugar mills, Jahangir Tareen, and his son Ali Tareen in sugar scam and money laundering charges.
Read: Jahangir Tareen’s son appears before FIA probing into sugar scandal
On March 31, the Federal Investigation Agency (FIA) had filed two FIRs against Jahangir Tareen and two other family members in the sugar scandal and money laundering charges.
FIA Lahore registered cases against the 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.
