More than 35 bank accounts of Jahangir Tareen, family frozen

(Karachi) In a new development into the sugar scam inquiry, the State Bank has frozen more than 35 bank accounts of former Pakistan Tehreek-e-Insaf leader Jahangir Tareen and his family, local media reported on Friday.

The accounts have been frozen at the request of the Federal Investigation Agency.

As per details, of the seized accounts, 21 of them are owned by Jahangir Tareen’s son Ali Tareen, 14 accounts are owned by Jahangir Tareen whereas the one account is held by his wife.

Earlier today, the FIA summoned Jahangir Tareen and his son who appeared before its team for questioning in separate cases in the sugar scam. Tareen was summoned in two cases while Ali Tareen in a case over allegedly defrauding the shareholders.

The Sugar Inquiry Commission report held Omni Group, Murad Ali Shah, Moonis Elahi, Jahangir Tareen, Salman Shehbaz, and others responsible for their involvement in the sugar scam.

The report transpired that farmers faced losses at the hands of businessmen and middlemen. It stated that farmers were not given their due share while sugar was sold at higher rates.

The findings revealed that certain sugar mills used informal receipts. The mill owners also showed the price of production to be more than the support price which meant that farmers earned less, the report maintained.

The report stated that sugar mill owners carried out informal banking, which is an unregulated procedure and resulting in losses to the farmers. The inquiry commission report also revealed that sugar mill owners are also involved in accounting fraud.