Police remand of eight suspects extended in cryptocurrency trader abduction case

An anti-terrorism court (ATC) on Monday extended for five days police remand of eight suspects in a case pertaining to the abduction of a cryptocurrency trader for ransom.

Mohammad Arsalan, involved in a cryptocurrency business, was kidnapped in a police mobile on December 25 at 1:40am and released after payment of a ransom of $340,000. Eight suspects, including two Counter-Terrorism Department (CTD) officials, have been arrested for their alleged involvement in the case.

On Monday, investigation officer Makhdoom Moinuddin produced Haris Siddiqui, alias Ashar, Mohammad Rizwan Shah, Tariq Hassan Shah, alias Amir, Syed Muzamil Raza, Umer Jilani, Noman Riffat, Ali Sajjad and Muhammad Umer before the administrative judge of the anti-terrorism courts (ATCs) on the expiry of their previous remand and sought an extension in their remand for the completion of investigation.

The IO informed the judge that cash and a Mercedes Benz car purchased by the suspects using proceeds from the conversion of digital currency, had been recovered. He added that the victim had also identified two suspects during an identification parade conducted by a judicial magistrate.

The IO further stated that the suspects needed to be interrogated further to trace and arrest their accomplices. The judge handed over the suspects to police for five more days on physical remand.

An FIR was lodged under the sections 365-A (kidnapping or abducting for extorting property, valuable security, etc) and 34 (common intention) of the Pakistan Penal Code read with the Section 7 (punishment for acts of terrorism) of the Anti-Terrorism Act.

The complainant stated that private individuals, under the pretext of buying dollars, used a police mobile with police officers in plain clothes to kidnap him. They then took him from Manghopir to a spot near the Saddar passport office, where they transferred around $340,000 from his Binance account to their different accounts. After that they abandoned him near the Mazar-e-Quaid.