LAHORE: A special court of banking offence on Wednesday extended interim bail of prominent politician and industrialist Jehangir Tareen, his son Ali Tareeen and two others till April 10 in fake accounts case registered by Federal Investigation Agency (FIA) in the backdrop of the sugar scam.
The interim bail was extended due to unavailability of the concerned judge, Ameer Muhammad Khan.
Earlier, Jehangir Tareen, Ali Tareen along with their counsel appeared in the court. It is pertinent to mention here that a sessions court had also granted interim bail to Jehangir Tareen and Ali Tareen till April 10 in two cases registered under charges of money laundering and financial fraud.
The FIA had registered a total of three FIRs against Jahangir Tareen, his son Ali Tareen, and others under charges of money laundering, misappropriation of shareholders money and fraud in the sugar scam.
Two FIRs were registered under sections 406 (criminal breach of trust), 420 (cheating of public shareholders) and 109 of the Pakistan Penal Code (PPC), read with sections 3/4 of the Anti-Money Laundering Act.
In third case, it was alleged that accused Tareen fraudulently misappropriated money of shareholders after his company (JDW group) transferred Rs.3.14 billion to an associated private company identified as Farooqi Pulp Private Limited (FPML). The FIR stated that the private company is owned by his sons and close relatives.
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