FIA arrests five suspects for illegal currency exchange

KARACHI: The Federal Investigation Agency (FIA) arrested five suspects while taking action against the people involved in the Hawala Hundi(illegal currency exchange business).

During three separate raids conducted in different areas of Karachi, FIA teams arrested five suspects and seized currency, prize bonds cheque , computers and mobile phones worth more than 25 million.

According to Director FIA Karachi Noman Siddiqui, Corporate Crime Circle personnel raided a building on Shaheed e Millat Road and arrested travel agency owner Asif Ashraf and referral dealer Shayan Wahid. Cash, mobile phone laptop and Hawala Hundi records and other items were recovered.

The raids were also conducted in Garden West and Sharafabad, from where 117 signed cheques, prize bonds worth Rs 61,000 and cash of Rs 4.7 million, besides two laptops, two computers and seven mobile phones, registered to the Hawala Hundi were confiscated. .

According to Director FIA, in another operation, the accused named Muhammad Owais, Aqeel Sameer, Javed were arrested who were found involved in running the setup of the Hawala Hundi.

FIA officials said that the accused were settling business payments through a third party and operating through a benami (without name) company.

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