LAHORE: A banking court on Saturday extended the pre-arrest bail of PTI stalwart Jahangir Tareen and his son Ali Tareen in money laundering and financial fraud cases till April 22.
Jahangir Tareen and his Ali Tareen appeared before the court as it conducted hearings of the bail pleas. Six lawmakers from the National Assembly (NA) and 21 legislators from the provincial assembly also appeared alongside them.
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 pleaded to grant for an extended period due to the current situation of the coronavirus pandemic.
The additional district and sessions judge Hamid Hussain questioned the FIA’s counsel whether it has any objections to the authority of the court. The lawyer replied the court should directed the accused to join the investigation.
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 his bank accounts.
He added that the accused are also facing allegations for 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.
Later, the banking court extended the bail of Jahangir Tareen and Ali Tareen till April 22 and adjourned hearing.
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 Jahangir Tareen, his son Ali Tareen and his son-in-law in the sugar scam. The agency said over three billion rupees money laundering made by showing investment in a closed factory.
