Wednesday June 07, 2023

Corporate fraud, money-laundering: Jahangir Tareen, son submit reply to FIA

By Our Correspondent
April 14, 2021

LAHORE: Known industrialist and politician Jahangir Khan Tareen (JKT) and his son Ali Khan Tareen Tuesday submitted their reply to the FIA in alleged corporate fraud and money laundering cases against the father-son duo.

Tareens have submitted their reply through their secretary, Maqsood Malhi. The FIA had asked Tareens to provide answers of eight questions. The FIA had asked Tareens to provide complete inventory, with commercial invoices wherever applicable of the plant, machinery and equipment of JKFSL since Nov 20, 2013, along with the JKFSL valuation report, prepared by the audit company AF Ferguson & Co.

Moreover, they were asked to provide complete details of the 35,000 acres of farmland owned by them. As per cases against Jahangir Tareen and Ali Khan Tareen, the FIA had registered two separate cases against father-son duo over the charges of fraud and money-laundering worth Rs3.14 billion.

The FIA had registered cases against them under the 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.