As the Federal Investigation Agency continues to probe the sugar crisis in the country, the bank accounts of Jahangir Tareen — who owns the JDW Sugar Mills — as well as his family members, have been frozen.
Sources informed Geo News that nine banks in total, both government and private, have frozen 36 accounts belonging to Tareen and his family.
The sources said that the accounts were frozen at the request of FIA Lahore and in connection with the Tareen-owned JDW group’s alleged money laundering, illegal trade of shares, fraud, and association with the mafia engaging in “satta” (price-fixing through collusion).
Sources added that of the bank accounts, four are US dollar accounts, two are British pound accounts and 30 are Pakistani rupee accounts.
According to a list obtained by Geo News, 21 of the bank accounts belong to Jahangir Tareen’s son, Ali Tareen, 14 belong to Jahangir Tareen himself, and one belongs to his wife Amina Tareen.
The sources said that the frozen bank accounts contain “tens of millions of rupees”.