The Federal Investigation Agency (FIA) Lahore has constituted 20 teams to take stern action against sugar mafia involved in profiteering, artificial shortage of sugar and money laundering.
According to sources, the investigation will be carried out by Director FIA Lahore while decision to launch cases and arrests has also been made. The massive crackdown will be launched under the Anti-Money Laundering Act.
According to details, the FIA has unearthed a huge financial scam of money laundering by the sugar mafia. The price of sugar was deliberately being increased through artificial shortage and gambling, it has been revealed. The price of sugar was increased from 70 to 90 rupees in just one year through artificial ways.
The investigations carried out by the FIA further reveal that the sugar mafia made 110 billion rupees in last one year through gambling. Sources in FIA claimed that hundreds of fake bank accounts were opened to conceal the money earned through illegal means.
All the major sugar groups including Tareen Group, Sharif Group, Alliance Group, Hamza Group and Thal Group have been found involved in the illegal acts, the investigations revealed. The FIA gathered solid proofs from 32 mobile phones and laptops.
The FIA has sprung into action as the sugar mafia is once again trying to increase sugar prices artificially during the upcoming month of Ramazan when the demand of the commodity increases manifold.
