Shehbaz, Tareen booked on money laundering, fraud charges

[Morpheus]

Shehbaz, Tareen booked on money laundering, fraud charges
Babar Khan On Nov 15, 2020 Last updated Nov 15, 2020


LAHORE: The Federal Investigation Agency (FIA) has booked PML-N President Shehbaz Sharif, his sons Hamza and Salman, PTI leader Jahangir Khan Tareen and his son Ali Tareen on charges of money laundering and fraud, reported ARY News.

All accused are currently being investigated for their alleged involvement in the sugar scandal and money laundering. The FIA filed separate FIRs against them under various sections of Pakistan Penal Code (PPC).



According to investigators, a cumulative sum of Rs25 billion was deposited in the Sharif Group’s bogus companies from 2008 to 2018. The amount was transferred into the bank accounts of Ramazan and Al-Arabia sugar mills’ employees.
The employees admitted that the accounts were opened for Salman’s covert money transfers, the FIA said.


Whereas Jahangir Khan Tareen and his son are accused of submitting a bogus report about a business deal. His JDW bought JKSFL for Rs4.35 billion and submitted a forged report about the deal, the FIA said, adding the JDW committed fraud by using public shareholders’ money for the purchase.

The sections under which the case has been lodged against the father-son duo include 406 (punishment for criminal breach of trust), 420 (cheating), and 109 (abetment) among others.

Shehbaz, Tareen booked on money laundering, fraud charges

All accused are currently being investigated for their alleged involvement in the sugar scandal and money laundering

arynews.tv

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[Norwegian]

Shehbaz, Tareen booked on money laundering, fraud charges
Babar Khan On Nov 15, 2020 Last updated Nov 15, 2020


LAHORE: The Federal Investigation Agency (FIA) has booked PML-N President Shehbaz Sharif, his sons Hamza and Salman, PTI leader Jahangir Khan Tareen and his son Ali Tareen on charges of money laundering and fraud, reported ARY News.

All accused are currently being investigated for their alleged involvement in the sugar scandal and money laundering. The FIA filed separate FIRs against them under various sections of Pakistan Penal Code (PPC).



According to investigators, a cumulative sum of Rs25 billion was deposited in the Sharif Group’s bogus companies from 2008 to 2018. The amount was transferred into the bank accounts of Ramazan and Al-Arabia sugar mills’ employees.
The employees admitted that the accounts were opened for Salman’s covert money transfers, the FIA said.


Whereas Jahangir Khan Tareen and his son are accused of submitting a bogus report about a business deal. His JDW bought JKSFL for Rs4.35 billion and submitted a forged report about the deal, the FIA said, adding the JDW committed fraud by using public shareholders’ money for the purchase.

The sections under which the case has been lodged against the father-son duo include 406 (punishment for criminal breach of trust), 420 (cheating), and 109 (abetment) among others.

Shehbaz, Tareen booked on money laundering, fraud charges

All accused are currently being investigated for their alleged involvement in the sugar scandal and money laundering

arynews.tv

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This is across the board accountability.
@Tameem @Verve @IceCold @Indus Pakistan @PakSword @Mugen

 

[AZ1]

Great if JTK is corrupt court should give him punishment.

 

[Verve]

For additional details:

 

[Aryeih Leib]

Something we can learn from China

 

[Morpheus]

FIA, NAB find leads suggesting Sharif siphoned Rs25b
Web Desk On Nov 19, 2020 Last updated Nov 19, 2020

ISLAMABAD: Federal Investigation Agency (FIA) of Pakistan revealed on Wednesday the alleged graft through a network of forged bank accounts run by former Punjab chief minister Shahbaz Sharif which the agencies say is to the tune of Rs25 billion graft.

ARY News program Power Play claimed investigation agencies have successfully busted the networks perpetrated by the Sharif family to siphon off money including collecting evidence in the TT scandal, in its Wednesday episode.


It was reported that just like in the infamous Omni case, relating former president Asif Ali Zardari, Sharif’s frontmen were poor people whose particulars and titles were used without their knowledge to maintain the swindle.

The program noted that while NAB already prosecutes in Sharif’s Rs7 billion corruption case, the new details draw an even notorious volume of a whopping Rs25 billion fraud.

FIA has reportedly learned of the accounts opened illegally, in the name of individuals belonging to lower-income class people, in 2008 to 2018 span.

The details suggest that the money that landed into such accounts came from kickbacks, extortion, and tax evasion and were channeled to be laundered.

These leads FIA claims as substantial evidence to incriminate Sharif, were probed while sugar commission investigations were conducted.

Evidence and leads were contracted from investigations in Ramzan and Al-Arabia sugar mills, FIA was reported to have claimed.

Fake accounts: FIA, NAB find leads suggesting Sharif siphoned Rs25b

Investigation agencies have busted networks perpetrated by the Sharif family to siphon off money through multiple fake accounts similar to the Omni case

arynews.tv

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@Pan-Islamic-Pakistan @Norwegian @Patriot forever

Even more evidence that these crooks only want to loot Pakistan, using the poor people as there cannon fodder

 

[Morpheus]

NAB unearths Hamza’s unaccounted bank transactions
Web Desk On Feb 22, 2021

LAHORE: PML-N leader and Punjab Assembly opposition leader Hamza Shahbaz received more than Rs181 million through 23 “suspicious transactions”, a National Accountability Bureau (NAB) report revealed on Monday.
It said he could not account for these transactions nor could he present any evidence in this regard.


The report further disclosed that the Shehbaz Sharif family set up fourteen big companies between 2005 and 2016 using the money received through suspicious transactions, adding Hamza, being a shareholder in these firms, kept receiving huge monetary benefits from the companies.
The bureau said that the opposition leader amassed more assets than his sources of income justify and was found involved in corrupt practices.

A two-judge Lahore High Court (LHC) bench will take up a bail petition filed by Hamza on Feb 23.
It its reply submitted to the LHC, the national graft buster called for the PML-N leader’s bail petition to be dismissed. The bureau stated that the high court had already dismissed the bail plea of the accused. He filed the fresh bail petition on the same grounds that were given in his previous plea, it added.

NAB unearths Hamza's unaccounted bank transactions

The bureau says he could not present any evidence when confronted

arynews.tv

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