Lahore court extends Jahangir Tareen’s bail in money laundering case
Shahid Hussain, 19 May 2021
A Lahore sessions court extended Wednesday the bail of PTI leader Jahangir Tareen and his son Ali Tareen until May 31, in three money laundering and fraud cases.
The court told the Federal Investigation Agency to complete its investigation by then and not ask for more time. It had extended the bail until May 19 in the last hearing.
FIA, which has filed the cases, told the court that it needs more time to examine the heavy financial transactions done by Tareens. The court asked whether it wants to arrest the two, but the FIA said that it is still investigating, and will inform the court once it decides to arrest them.
Jahangir Tareen’s lawyer told the court that all records have already been submitted to the FIA.
In the fraud case, Tareen is accused of transferring Rs3.14 billion to a private company Farooqi Pulp Mills Ltd in Gujrat. It claimed that the company belongs to his son-in-law and relatives. This amount was later deposited into the accounts of Tareen’s family members.
The money laundering charge against him states that Rs2.2 billion from accounts of JDW (from October 2017 to March 2020) were fraudulently and dishonestly made through Amir Waris, who was working as a cashier at JDW’s Corporate Head Office.
