KARACHI: The Federal Investigation Agency (FIA) on Wednesday conducted raids in the Defence Housing Authority (DHA) and Soldier Bazaar and arrested four suspects, including one bank official, over charges of involvement in illegal currency exchange business.

An FIA spokesperson said the agency conducted an action against a private bank’s office located on Khayaban-i-Shahbaz in DHA and arrested the bank’s relationship manager, Zeeshan Abbas, and another suspect named Abdul Karim. During the raid, $9,000 was recovered from their custody.

Mobile phones were also seized from their custody, which were being used for illegal currency business.

Separately, the FIA’s State Bank Circle conducted a raid in Soldier Bazaar and arrested two suspects namely Syed Mohammed Raza and Hasnain allegedly involved in illegal currency exchange and recovered $50,600, €1,500, local currency and gold from their custody.

Three cell phones were also seized. The suspects were running a currency exchange business without any license.

Published in Dawn, May 29th, 2025