FIA cases against Jahangir Tareen, Shehbaz Sharif and others in sugar scam

Lahore [Pakistan], November 16 : The Federal Investigation Agency (FIA) on Sunday registered cases against estranged Pakistan Tehreek-e-Insaf (PTI) leader Jahangir Tareen, his son and Pakistan Muslim League-Nawaz (PML-N) president Shehbaz Sharif and his two sons among others in the multibillion rupee sugar scam, under money laundering, fraud, and other charges.
According to official sources, FIA's investigation against federal Minister of Economic Affairs Khusro Bakhtiar and his family members in this scam is also underway and they may be summoned soon, reported Dawn.
The PTI leader and his son Ali Tareen were booked under sections 406 (criminal breach of trust), 420 (cheating of public shareholders) and 109 of the Pakistan Penal Code and r/w 3/4 of Anti Money Laundering Act, while Sharif and his sons, Hamza and Salman, have been booked under sections 419, 420, 468, 471, 34 and 109 - financial fraud, impersonation and forgery - of the PPC and 5(2) and 5(3) - criminal misconduct - of Prevention of Corruption Act and r/w 3/4 of Anti Money Laundering Act.
"Jahangir Tareen and his son Ali, who earlier had skipped FIA hearing because they were in London, will be re-summoned to record their statements. An FIA team will record the statements of Shehbaz and Hamza in (Kot Lakhpat) jail where they are on judicial remand in NAB's money laundering and income beyond means cases. Salman Shehbaz, who is absconding in the UK, will be summoned. And in case of his non-appearance, the process of issuing his red warrants will be initiated," an official source told Dawn.
According to Dawn, Tareen returned early this month after about a six-month stay in the United Kingdom, opposition PML-N had alleged that he was back under 'some deal'.
His son Ali returned too at a time when his cricket team -- Multan Sultans -- is taking part in the play-offs stage of the Pakistan Super League (PSL).
The FIR stated during the course of inquiry it was noted that an amount of at least Rs 1.2 bn was overpaid (transferred by Jahangir Tareen) from the accounts of a listed public limited company (JDW Sugar Mills Ltd) to another company (JK Forming System Ltd, hereinafter JKFSL owned by his children) while purchasing the assets of the latter (JKFSL) at an exorbitant non-arm's length purchase price of Rs 4.35 bn in November 2013.
"During the course of the present inquiry, it has transpired that the JDW Sugar Mills recorded a false disclosure in its annual audited financial statement of 2014," it said.
Earlier, Tareen in his defence had said all transactions were financially prudent under the circumstances in which they were carried out, reported Dawn.
In 2017, Tareen had resigned as the general secretary of the party, a day after he was disqualified for life as a parliamentarian by the Supreme Court.
Meanwhile, the separate FIR against Shehbaz Sharif, Hamza and Salman said during the course of the FIA inquiry, it was learnt that the total deposits amounting to over Rs 25 bn (2008-18), identified so far, were received in bank accounts of various low-wage employees of Ramzan Sugar Mills and Al-Arabia Sugar Mills and accounts of fake companies set up and controlled by the Sharif group.
"The low-wage employees of the Sharif group's Ramzan Sugar Mills and Al-Arabia Sugar Mills have admitted during the inquiry that these accounts were opened and operated for the personal/secret transactions of Salman Shehbaz on the instruction of CFO of the Sharif group Mohammad Usman. Mushtaq Cheeni has provided secret ledgers as a proof to show that the money from the undisclosed sale of sugar deposited into these accounts is only Rs 3.95 bn implying therein that the source of remaining funds is extraneous to sugar business and can best be explained by Shehbaz Sharif and his sons and their mills officers who managed these accounts," the FIR said.
Last year, Sharif and his son Hamza were indicted in connection with the Ramzan Sugar Mills case.
NAB had then alleged that Sharif misused his post as the former Punjab chief minister to build a bridge amounting to rupees five hundred million to facilitate the Ramzan mills.