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FIA Begins Massive Crackdown Against Sugar Mill Owners from PTI

Morpheus

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FIA Begins Massive Crackdown Against Sugar Mill Owners from PTI
Posted 37 mins ago by Raza Rizvi


The federal government has initiated a crackdown against the sugar mafia involved in multibillion rupee financial scam and price manipulation.

The Federal Investigation Agency (FIA) chief, Wajid Zia, has formed a combined investigation team (CIT), tasked to probe the three biggest groups running several sugar mills in the country related to a financial crime worth Rs. 20 billion.

In the first phase, the CIT has started legal action against JDW Group of Companies and Alliance Sugar Mills. While the JDW Group is owned by Imran Khan’s close aide Jahangir Khan Tareen, the Alliance Sugar Mills have significant shares of the family of Federal Economics, Minister Makhdoom Khusro Bakhtiar and PML-Q leader Chaudhry Moonis Elahi.

According to an official document, the CIT crackdown has the legal protection from the premier-backed Sugar Commission, which has also approved an inquiry into alleged corporate/financial crime/Benami business of JDW Group involving over Rs. 16.1 billion.

Corporate fraud of Rs. 3.6 billion by JDW through the overvalued purchase of associated company JKT Farming System Ltd and booking losses through it. Corporate fraud of Rs. 3.1 billion by JDW through investment in Faruki Pulp Ltd and booking impairment losses through it — inexplicable transfer of Rs. 2.5 billion by JDW through non-arm’s cash transfers to various sister entities via Amir Waris cash boy — inexplicable transfer of Rs. 7 billion by JDW to Dherki Sugar Mills (non-arm’s cash transfers) without true and full disclosure in the financial statement.

The document noted that the Al-Arabia Sugar Mills manipulated accounts and showed a reversal of sales to hide Rs. 1.195 billion in financial statements.

Similar irregularities have been found in the accounts of Alliance Sugar Mills, JDW, and Ramzan Sugar Mills, it added.

https://propakistani.pk/2020/08/07/fia-begins-massive-crackdown-against-sugar-mill-owners-from-pti/
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The Accountant

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FIA Begins Massive Crackdown Against Sugar Mill Owners from PTI
Posted 37 mins ago by Raza Rizvi


The federal government has initiated a crackdown against the sugar mafia involved in multibillion rupee financial scam and price manipulation.

The Federal Investigation Agency (FIA) chief, Wajid Zia, has formed a combined investigation team (CIT), tasked to probe the three biggest groups running several sugar mills in the country related to a financial crime worth Rs. 20 billion.

In the first phase, the CIT has started legal action against JDW Group of Companies and Alliance Sugar Mills. While the JDW Group is owned by Imran Khan’s close aide Jahangir Khan Tareen, the Alliance Sugar Mills have significant shares of the family of Federal Economics, Minister Makhdoom Khusro Bakhtiar and PML-Q leader Chaudhry Moonis Elahi.

According to an official document, the CIT crackdown has the legal protection from the premier-backed Sugar Commission, which has also approved an inquiry into alleged corporate/financial crime/Benami business of JDW Group involving over Rs. 16.1 billion.

Corporate fraud of Rs. 3.6 billion by JDW through the overvalued purchase of associated company JKT Farming System Ltd and booking losses through it. Corporate fraud of Rs. 3.1 billion by JDW through investment in Faruki Pulp Ltd and booking impairment losses through it — inexplicable transfer of Rs. 2.5 billion by JDW through non-arm’s cash transfers to various sister entities via Amir Waris cash boy — inexplicable transfer of Rs. 7 billion by JDW to Dherki Sugar Mills (non-arm’s cash transfers) without true and full disclosure in the financial statement.

The document noted that the Al-Arabia Sugar Mills manipulated accounts and showed a reversal of sales to hide Rs. 1.195 billion in financial statements.

Similar irregularities have been found in the accounts of Alliance Sugar Mills, JDW, and Ramzan Sugar Mills, it added.

https://propakistani.pk/2020/08/07/fia-begins-massive-crackdown-against-sugar-mill-owners-from-pti/
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Thats the Pakistan i voted for. But it will not be completed unless the culprits gets behind the bar.

Our legal system and its enforcement is really weak and hardly we can punish these powerful persons.
 

Bilal.

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Thats the Pakistan i voted for. But it will not be completed unless the culprits gets behind the bar.

Our legal system and its enforcement is really weak and hardly we can punish these powerful persons.
For that, give the guy 2/3 majority or at least a comfortable one so that he is not blackmailed and threatened day and night on losing the government and corrupt getting back in power and making it all much worse.
 

Mugen

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Punish all corrupt regardless of which ever political party they belong to. Pakistan first! Our loyalty is with Pakistan, not a political party.
 

R Wing

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Thats the Pakistan i voted for. But it will not be completed unless the culprits gets behind the bar.

Our legal system and its enforcement is really weak and hardly we can punish these powerful persons.
Having discussed this with many judges, including Supreme Court Justices, I believe the issue is in the very poor forensic and investigative training/capability of the FIA/NAB. When they bring an apparently "slam dunk" case to the courts, the evidence is actually pretty pathetic. I mean real proof, not sensationalized media BS or the fact that we "know" these dynastic politicians are all corrupt.

Our investigative agencies will have to capacity-build massively to truly decipher the complex corruption mechanisms that these political families continue to use.
 

darksider

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Flour prices going up.roti is 15 rupees now.
These are showoff gestures.no body will get punishment.
Tell us what are you doing to control sugar and flour prices?
 

The Accountant

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Having discussed this with many judges, including Supreme Court Justices, I believe the issue is in the very poor forensic and investigative training/capability of the FIA/NAB. When they bring an apparently "slam dunk" case to the courts, the evidence is actually pretty pathetic. I mean real proof, not sensationalized media BS or the fact that we "know" these dynastic politicians are all corrupt.

Our investigative agencies will have to capacity-build massively to truly decipher the complex corruption mechanisms that these political families continue to use.
Agreed, there is a real need of beefup the investigation agencies capabilities.
 

The Accountant

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Will it stop them from taking the bribes?
No
they know what's going on.but bribes and under influence made them incompetent.
but now they are incompetent and lack experience in any real investigative skills. So even if some of them (probably new hiring) decided to do real investigation he cant because of lack of equipment and experience along with lack of proper support.
 

Jazzbot

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Good going, kudos to IK for at least trying even without 2/3 majority and a coalition govt.
 

Verve

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Flour prices going up.roti is 15 rupees now.
These are showoff gestures.no body will get punishment.
Tell us what are you doing to control sugar and flour prices?
It always starts with the manufacturers and wholesalers! Once these are controlled, rest of the supply chain will be much easier.
 

AZ1

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Flour prices going up.roti is 15 rupees now.
These are showoff gestures.no body will get punishment.
Tell us what are you doing to control sugar and flour prices?
First tell us why court said to keep the price as it is?
 

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