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Pakistan

Money laundering, fraud charges: FIA registers FIR against Shehbaz Sharif, Jahangir Tareen

  • Investigators probing the cases said a huge amount of Rs25 billion was deposited in the Sharif Group’s bogus companies from 2008 to 2018
Published November 15, 2020

(Karachi) The Federal Investigation Agency (FIA) has booked PML-N President Shehbaz Sharif, his sons Hamza and Salman, PTI leader Jahangir Khan Tareen and his son Ali Tareen on charges of money laundering and fraud, local media reported on Sunday.

As per details, the FIA is investigating the accused for their alleged involvement in the sugar scandal and money laundering scams. Separate FIRs have been registered against them under various sections of Pakistan Penal Code (PPC).

Investigators probing the cases said a huge amount of Rs25 billion was deposited in the Sharif Group’s bogus companies from 2008 to 2018. The amount was transferred into the bank accounts of Ramazan and Al-Arabia sugar mills’ employees.

FIA accused Jahangir Tareen and his son of submitting a bogus report about a business deal. The investigating agency revealed that JDW bought JKSFL for Rs4.35 billion and submitted a forged report about the deal. It added the JDW committed fraud by using public shareholders’ money for the purchase.

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