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Jahangir Tareen withdraws bail petition in fraud, money laundering cases


Disgruntled PTI leader Jahangir Tareen and his son Ali Tareen have withdrawn their bail petitions in the corporate fraud and money laundering cases against them.

In March, the Federal Investigation Agency 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, name Tareen’s son-in-law
Waleed Akbar Faruki too.

A Lahore sessions court resumed hearing the cases Friday. It
ordered the FIA not to take any action against them without the court’s
permission.

An FIA official informed the court that they didn’t need to
arrest Tareen and his son. The agency was examining the record, he added.

The court barred the FIA from arresting the duo for now.
Their interim bail expired today.

Tareen is accused of transferring Rs3.14 billion to a private company Farooqi Pulp Mills Ltd in Gujrat. The company belongs to his son-in-law and relatives, according to the FIA. This amount was later deposited into the accounts of Tareen’s family members.

The money laundering case against him states that Rs2.2 billion from the 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.

Tareen denies the charges.

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