Court Extends Jahangir Tareen, Son Ali Tareen’s bail in money laundering case

A Lahore session court has on Monday (today) extended the bail of PTI leader Jahangir Tareen and his son Ali Tareen in two money laundering and fraud cases.

PTI leader Jahangir Tareen appeared before the court for the hearing and was accompanied by 23 MPAs and three MNAs.

The court instructed the Federal Investigation Agency (FIA) to quickly finish the investigation against Tareen and his son and adjourned the hearing till May 19.

Jahangir Tareen and Ali Tareen are accused of financial fraud of Rs 3 billion. Jahangir Tareen transferred Rs 3 billion from the GDW company to his son-in-law’s factory and the money sent to the factory was later transferred to the family members’ accounts.

The FIA ​​Lahore had registered a case against Rana Naseem, a close associate of Jahangir Tareen, who is accused of embezzling sugarcane. Rana Naseem was working in the company of Jahangir Tareen as Chief Financial Officer.

The FIA ​​had said in the FIR that more than Rs 3 billion was laundered by investing money in the closed factory. CEO OJDW transferred Rs 3.14 billion to the closed company through forgery.

The FIR also alleged sugar hoarding, fraud and embezzlement, saying that Jahangir Tareen transferred money to a closed company for his own and his family’s personal gain.

Earlier, a Lahore local court had granted bail to PTI central leader Jahangir Tareen till April 10.

The Lahore local court granted bail to Jahangir Tareen till April 10, while the banking court granted bail to Jahangir Tareen and Ali Tareen till April 7. The Bangkok court had ordered Jahangir Tareen and Ali Tareen to submit bonds of Rs 500,000.

Jahangir Tareen had approached the Sessions Court for pre-arrest bail. A case of alleged financial fraud has been registered against Jahangir Tareen and Ali Tareen. The case against Jahangir Tareen and Ali Tareen has been registered by the FIA.

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