Suspect held as FIA busts gang involved in illegal money transfers

The Federal Investigation Agency’s (FIA) Corporate Crime Circle (CCC) in Karachi on Saturday took decisive action against an organised gang engaged in LPG smuggling and hawala hundi.

Officials revealed that, acting on the directives of FIA Karachi Zone Director Zaim Iqbal Sheikh, an ongoing crackdown targets individuals involved in hawala hundi and illegal currency exchange. Raids in Lyari were being conducted under the supervision of Deputy Director Corporate Crime Circle Karachi Ayaz Mehar.

The leader of the organised gang, responsible for LPG smuggling and illegal currency exchange, had been apprehended with a recovery of currency worth millions of rupees. The accused, identified as Ahmed, was arrested from the Musa Lane area of Lyari. Ahmed was reportedly engaged in hawala hundi and smuggling LPG from Iran.

The arrest also uncovered his involvement in foreign exchange without proper licensing, with a seizure of Rs5,940,000 and four mobile phones during the raid.

Furthermore, crucial records related to hawala hundi and LPG smuggling were recovered from the accused. Despite the raid and investigation, the accused failed to provide satisfactory explanations regarding the recovered currency.

Officials had registered a case against seven suspects, with ongoing raids to apprehend others involved. Investigations are actively underway.