All three FIRs against me make no mention of sugar price increase: Jahangir Tareen

LAHORE: A banking court in Lahore extended till May 3 the interim bail of PTI leader Jahangir Tareen and his son Ali Tareen in a money laundering case on Saturday.

The Federal Investigation Agency (FIA) sent notices to the father and son on April 14 and summoned the record of all businesses of the PTI leader, including dairy farms.

Jahangir's lawyer, however, argued that it was not possible to submit all record on a day’s notice, particularly due to the law and order situation.

He told the court that Jahangir and Ali will appear before the investigation agency on April 19. The court adjourned the hearing till May 3.

The father-son duo have been accused of money laundering and fraud, with one of the case's registered by the FIA amounting to alleged fraud of Rs3.14 billion.

An FIR states that Jahangir allegedly transferred illegal shares worth billions of rupees to Farooqi Pulp Mills Limited (FPML), which is owned by his son and close relatives.

It says the transfers, especially after 2011-12, were "patently fraudulent investments which ultimately translated into personal gains" for Jahangir's family. Some Rs3 billion were invested and laundered through the same factory.

All three FIRs against me make no mention of sugar: Jahangir Tareen

Jahangir  remains adamant that he has "nothing" to do with the sugar mafia or increase in sugar prices in Pakistan.

Speaking to the media outside court, he said  all three FIRs against him make no mention of sugar.

He called for people to read the three FIRs against him.

"All three FIRs did not mention the rise in the price of sugar, but the FIRs picked up things relating to my business from eight to 10 years ago," Tareen said.

Tareen said a a fictional story has been fabricated against him. "My documentation is clear and transparent. I pay my income tax every year. Mine and my family's accounts are with the income tax people," he said.