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Monday May 20, 2024

Woman among two held on money laundering charges

By Our Correspondent
April 24, 2024
The FIA logo can be seen in this image. — Facebook/Federal Investigation Agency - FIA/File
The FIA logo can be seen in this image. — Facebook/Federal Investigation Agency - FIA/File 

The Federal Investigation Agency (FIA) on Tuesday announced the arrests of two suspects, including a woman, for their alleged involvement in hawala, hundi, money laundering, and other illegal activities.

The arrests were conducted by the State Bank Circle of the FIA during an operation. As a result of the operation, two suspects, one of whom was a woman involved in using online gambling applications, were apprehended.

According to the FIA, the suspects were transferring illegally obtained funds from the online gambling application “Diamond Excel” to their accounts, with the assistance of bank officials. The FIA further stated that the suspects’ bank accounts did not align with their declared income and assets. The prime suspect, Azam Baig, utilised income from the criminal activities to purchase a property for his wife, with payment made from a suspicious bank account.

Among the arrested suspects are Azam Baig’s wife, Rubab Azam, and another individual named Shujaat Ali Khan. Raids are currently underway to apprehend the nominated key suspect, Azam Baig, along with other suspects and bank officials.