FIA books Jahangir Tareen, son for Rs3.25bn financial embezzlement

The Federal Investigation Agency (FIA) on Wednesday registered a case against former Pakistan Tehreek-e-Insaf (PTI) general secretary Jahangir Tareen, his son Ali Tareen, son-in-law and other members of the family for alleged financial embezzlement.

According to sources in the agency, Jahangir Tareen transferred Rs3.25 billion from JDW company to his son-in-law's closed paper manufacturing company Farooqui Pulp.

The money, the authority added, was then transferred to the accounts of different members of the family.

Likewise, the report added, some Rs3 billion were invested and laundered through the same factory. 26 per cent of shares in the factory belong to public shareholders.

Moreover, the former PTI leader and his family members purchased dollars from open market and transferred them overseas.

Also read FBR sugar mills report irks PM Imran

FIA has also registered a case against Jahangir's right-hand man and chief financial officer, former secretary agriculture Rana Nasim, who reportedly used the funds in the purchase of sugarcane.

In March, the Federal Board of Revenue (FBR) presented a report to Prime Minister Imran Khan about the recovery of taxes from the sugar mills, which, according to a sugar inquiry commission, had minted billions of rupees through illegal means.

In its preliminary report – unveiled on April 5 – the commission stated that sugar mills belonging to the families of top politicians including PML-N’s Shehbaz Sharif, Jahangir Tareen and Khusro Bakhtiar, PML-Q’s Moonis Elahi and PPP’s Asif Ali Zardari were among beneficiaries of the crisis.

(This story has been published from The Express Tribune feed, without modifications to the text)