LAHORE: The Federal Investigation Agency (FIA) on Saturday arrested a suspect involved in defrauding investors through a bogus investment scheme.

The FIA corporate crime circle said Muhammad Zunair posed himself as a ‘business development officer’ of Royal Blue Enterprises (Pvt.) Ltd to commit fraud.

“He lured citizens by offering them vehicles on lease at low mark-up rates and embezzled millions of rupees,” the FIA said. Along with his accomplices, the suspect deceived people by demanding a 20 per cent down payment on the pretext of providing them vehicles on easy lease terms.

According to initial investigation, the gang has so far collected more than Rs45 million from 37 citizens.

Raids are underway to apprehend his accomplices.

Published in Dawn, September 14th, 2025