JWD sugar mills CFO granted interim bail in sugar scam

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Staff Reporter

A Banking Court here on Thursday granted interim bail to JWD sugar mills Chief Financial Officer (CFO) Rana Naseem Ahmed in sugar scam and money-laundering charges.

Rana Naseem approached the banking court following registration of against Jahangir Tareen, his son Ali Tareen and him by an FIA team probing sugar scam.

The JWD CFO pleaded innocence in the court, pleading that he has nothing to do with the hike in sugar price. The court after hearing arguments reserved its decision.

Later, Banking Court Judge Ameer Ahmed Khan granted interim bail to Rana Naseem and ordered him to submit a surety

bond of Rs0.5 million. The court also barred FIA from arresting the accused.
On Wednesday, the FIA had filed two FIRs against Jahangir Tareen and two other family members in sugar scandal and money-laundering charges.

FIA Lahore registered cases against CEO of JWD Sugar Mills, Jahangir Tareen, his son Ali Tareen and his son-in-law in the sugar scam.

“The probe found that the company’s chief Rana Naseem acted as main aide and made over Rs600 million transactions from JWD’s accounts”.