FIA has booked both father and son over charges of doing money laundering of $7.4 million and damaging the national kitty.
LAHORE: (UrduPoint/Pakistan Point News-March 31st, 2021) Jahangir Khan Tareen and his son Ali Tareen both were booked over charges of fraud by Federal Investigation Agency (FIA) on Wednesday.
FIA charged that both father and son committed fraud of Rs 3.14 billion and accused them of laundering $ 7.4 million money to the United Kingdom and purchasing properties there. Jahangir Tareen systematically lifted the Dollars from the open market right at the moment when the fake investment was being made in the account of Faruki Palp Mills Limited and later utilized heavy amount of $35 thousand for purchasing by keeping it secret from the Financial Monitoring Unit. FIA claimed that Jahangir Khan Tareen did money laundering of 7 to 8 billion rupees and sent this amount to the United Kingdom. Under these allegations, both father and son were facing investigation. The FIR was registered on March 22 and it was said that that Federal board of Revenue (FBR) was already looking into this matter and had sent a notice to Jahangir Khan Tareen for recovery of the amount. According to the reports, Jahangir Khan Tareen had approached the court to get stay order against this notice. London properties allegedly owned by Jahangir Khan Tareen had also been exposed by Amnesty Schemes and FBR had claimed that Jahangir Khan Tareen’s family was a political family and therefore it could not get benefit of this amnesty schemes. The reports said that Ali Tareen, the son of Jahangir Khan Tareen, got benefit of this scheme.
On other hand, Jahangir Khan Tareen while talking on a local tv rejected the allegations of money laundering against him, terming the same as baseless. He claimed that a private audit firm had already declared his companies’ account as correct. He claimed that all the shares were sent abroad through the legal channels and the allegations leveled against him were totally baseless.
