A joint team of the Federal Investigation Agency (FIA) and the Securities and Exchange Commission of Pakistan (SECP) has been actively investigating the known and unknown assets of billionaire Jahangir Tareen.
FIA has contacted public and private institutions which have a record of wealth and business of Jahangir Khan Tareen (JKT).
Formal notices have been issued against JKT and 19 officials and private entities on charges of money laundering and corporate fraud.
In issuing the notice, the Sugar Commission 2020 Inquiry Report has been taken into account. The information sought includes almost every property of JKT and the people around him.
The investigation team also approached the Lahore Development Authority and the Capital Development Authority to put forward the relevant details to FIA.
The agency has asked the Security Exchange Companies of Pakistan (SECP) to give a detailed record of all companies registered in the name of Jahangir Tareen.
Earlier, the federal government had constituted a high level combined team to probe an alleged financial scam of over Rs20 billion involving three biggest groups running sugar mills in the country.
The CIT formed by head of FIA Wajid Zia initiated legal actions against JDW Group of Companies, owned by PTI leader Jahangir Khan Tareen and Alliance Sugar Mills owned by RYK Group with major share of family of Federal Minister for Economic Affairs Makhdoom Khusro Bakhtiar and PML-Q leader Chaudhry Moonis Elahi.