KARACHI, June 18: The Fede-ral Investigation Agency (FIA) has claimed to have unearthed a fake insurance company, which has been selling schemes for the last six months and arrested a man running the firm independently.

An official said the agency moved on an individual’s complaint which led to the disclosure that the Ahmed Khan National Mutual Insurance was not registered with the authority concerned. “After correspondence with the Security and Exchange Commission of Pakistan (SECP) we finally raided a house in the Mochko area near Saeedabad and arrested one Muhammad Ahsan Malik,” said Shujaat Ali, Deputy Director of FIA’s Crime Circle. He said the agency was looking for the individuals, who acquired such fake insurance policies, which would establish exact volume of business.