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FIA registers fraud, money laundering cases against Jahangir Tareen

He calls the claims fabricated

SAMAA | - Posted: Mar 31, 2021 | Last Updated: 7 months ago
SAMAA |
Posted: Mar 31, 2021 | Last Updated: 7 months ago

Photo: File

The Federal Investigation Agency has filed two FIRs against PTI’s Jahangir Tareen and accused him of committing fraud amounting to Rs3.14 billion.

The cases, which were registered on March 22, also name Tareen’s son Ali Tareen and son-in-law Waleed Akbar Faruki.

Both FIRS include sections 406 (criminal breach of trust), 420 (cheating of public shareholders) and 109 (punishment of abetment) of the Pakistan Penal Code read with sections 3 (money laundering) and 4 (punishment for money laundering) of the Anti Money Laundering Act.

In the fraud case, the agency has accused Tareen of “fraudulently transferred 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 pulp mills launched operations in 1991 to produce paper-pulp from eucalyptus but it was closed after a “failed trial run” in 1997. In 2007, Jahangir Tareen “practically took over the control of affairs” of the mills, it claimed.

The second FIR accused him of money laundering. “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,” it said.  

“The modus operandi of cash-based misappropriation and money laundering was employed to break the onwards money trail of deposits into personal and business accounts of Jahangir Khan Tareen and Family.”

Rana Nasim Ahmed, the COO of the JDW, was a “principal facilitator” in the case. He was given Rs600 million per year from JDW accounts, according to the FIR.  

The FIA said that it summoned Jahangir Tareen and Ali Tareen in person six times but they failed to appear. The FIRs were registered after a complete investigation.

FIA’s claims are totally fabricated: Jahangir Tareen

Tareen has, however, termed the allegations as baseless. He claimed that fake FIRs are being registered against him and his family members.

“FIA’s latest claims against me and my family are totally fabricated,” he said in a tweet. “I have already submitted a detailed reply along with concrete evidence in response to FIA notice.”

The FIA has mentioned that transactions that occurred between the JDW Mills and Farooqui Pulp Mills. He said that he has paid taxes on all his foreign transactions, adding that he has provided these details to the FIA.

Tareen said that he can even show the money trail of all assets owned by his son, Ali Tareen.

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