LAHORE: DIG Investigation Syed Zeeshan Reza claimed to have recovered gold worth over Rs150 million from the jeweller of Ichhra jewellery market who was arrested in Islamabad a couple of weeks back.

Talking to media persons here on Monday, Mr Reza said suspect Waseem Akhtar Sheikh had escaped with the gold belonging to his fellows of the same market.

He was later booked in multiple FIRs lodged by the victims with the Ichhra police besides his stepmother.

The DIG said the mystery of fraud involving gold worth hundreds of millions of rupees of the traders of Ichhra Sarafa (gold) Market has almost been resolved.

“The investigation police recovered from the nominated accused person 1,734 grams of gold,” Zeeshan Reza said.

A cash of more than Rs30 million was also recovered from him in addition to some vehicles.

After snatching gold from traders, the suspect had fled the market and gone underground in Islamabad.

“Before committing the [pre-planned] crime, the suspect had sold his house and all vehicles belonging to him and his family,” he said.

Immediately after registration of the FIR, different teams of the investigation police were tasked, said Reza.

“During the course of the investigation, we also ensured that the suspect does not flee abroad and is arrested as soon as possible”, said the DIG.

Investigation was carried out using modern technology and human intelligence from both aspects so that maximum recovery could be ensured.

To a question, he said some 20 cases were registered against the suspect at the respective police station so far.

Published in Dawn, February 3rd, 2026