LAHORE: The Federal Investigation Agency (FIA) has registered two cases against Jahangir Tareen, his son Ali Tareen, two daughters, son-in-law and other family members for financial fraud of Rs 3 billion.
According to FIA sources, Jahangir Tareen transferred Rs 3 billion to the account of Farooqi Pulp Company, his son-in-law’s closed paper factory, apart from GDW Company. The money transferred to the closed factory was later transferred to the accounts of family members.
In this way, more than Rs 3 billion was laundered by investing money in a closed factory. Jahangir Tareen and his family bought dollars from the open market and transferred the money abroad. The FIA registered two cases against Jahangir Tareen and his family.
Jahangir Tareen’s son-in-law used to make paper from the pulp tree. Jahangir Tareen’s factory has 26% public shareholders.
