The Federal Investigation Agency's (FIA) raids on the homes of sugar dealers have uncovered major sugar fraud, counterfeiting and money laundering networks of the sugar mafia.
Private TV, quoting FIA sources, has claimed that the price of sugar is being continuously increased by the sugar mafia through artificial scarcity and speculation. The Satya Mafia earned Rs. 110 billion in one year. It has been revealed that fake secret accounts have been created to hide the earnings of speculation.
Sources say speculators have the backing of all major sugar groups. The Tareen Group, Sharif Group, Alliance, Al-Mu'izz Thal and Hamza Group are among the backers of the speculators. The FIA has obtained evidence from 32 mobile phones and laptops, which also revealed that the sugar mafia was to increase sugar prices during Ramadan.
The FIA has decided to investigate the accounts of leading members of the sugar mafia. In addition, it has been decided to register cases and make arrests against those involved in betting. The FIA has formed 20 teams to crack down on the sugar mafia. The crackdown against the sugar mafia will be carried out under the Anti-Money Laundering Act, which will be overseen by the Director FIA Lahore.
