Sugar mafia’s financial scam: ISLAMABAD – The Federal Investigation Firm (FIA) has uncovered a mega economic fraud entailing country’s sugar industry ahead of the divine month of Ramazan.
The Federal Investigation Company (FIA) has formed 20 groups to launch a massive crackdown against the sugar mafia. The suppression will be launched under anti-money laundering act.
The FIA has actually recuperated solid evidence from sized 32 mobile phones as well as laptops, while it has actually been made a decision to penetrate the bank accounts of the top elements in this unlawful activity.
According to sources, the sugar mafia boosted the price of sugar with speculation (Satta Bazi) as well as producing fabricated shortage of sugar in the nation.
Sources claimed that the supposition (Satta Bazi) is being supported by all major sugar groups of the nation including Tareen and also Sharif, Hamza, Thal as well as partnership teams.
The sugar mafia hiked the product’s ex-mill cost from Rs 70 per kg to Rs 90 throughout the past year and also gained over Rs 110 billion via satta, the sources added.
The mafia was involved in creating artificial lack of the necessary thing and elevating the rates of the commodity. The sugar mafia had numerous phony bank accounts to hide the cash made with illegal ways, sources stated.