The Federal Investigation Agency (FIA) has registered a case against estranged Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Khan Tareen and his son Ali Tareen for their alleged involvement in a mega fraud.
The first information report (FIA) registered in Lahore pertains to Rs3.14 billion corporate fraud. The FIA alleged that Tareen transferred shares worth over Rs3 billion from his company JDW to a non-operational pulp company owned by his son-in-law through fraud. The money was then transferred to the accounts of Tareen’s family members, the FIA alleged.
At least 26 per cent of the JDW is owned by public shareholders.
Meanwhile, the FIA has also booked Rana Naseem, a close aide of Tareen, over embezzlement in buying. Naseem, the former agriculture secretary, was working as the chief financial officer in Tareen’s company.
Meanwhile, Tareen while talking to Geo said that allegations against him are baseless. He said that the shares were transferred to the other company legally, adding that a private company had already okayed his account after an audit.
More to follow