ISLAMABAD/LONDON: Pakistan Tehreek-e-Insaf (PTI) General Secretary Jahangir Khan Tareen is the actual owner of the £7 million Hyde House in Newbury, UK, which is established by Tareen’s Shiny View Limited BVI offshore company, reported The News.
According to the report, Tareen is also a “settler-directed/controlled trust” of the offshore trust in which the trustees have minimum control and his children can benefit only either 150 years or once Tareen has passed away.
Tareen has submitted a 38-page trust deed in the Supreme Court of Pakistan by in disqualification case.
However, Jahangir Tareen has denied that he owns the UK property, stating that the it belongs to his children through the Trust, established by Tareen’s Shiny View Limited BVI offshore company, but The News reported that Tareen is the actual owner of the house through the “trust” in which not only his children have absolutely no control but the trustees are also powerless while the total control and ownership firmly remains with Tareen.
The report further raises an objection to the place where the deed was signed as Tareen’s lawyer had told the court that it signed in London, but the trust deed clearly established that it was signed in Geneva, raising questions about links with Swiss accounts.
During his lifetime, all benefits, ownership and control of the trust are retained by Tareen, added the report. Trusts which are settler directed or controlled have to be declared as an asset by the settler since he has the control and is beneficial owner.
iss tareen maaderchood ko bhi nikaalo – sirf nawazoo maaderchood ko nikalna kaafi nahin air behenchood zardari ki bhi bund band karo fauji inn sab ki maan chood daigi insha’allah
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