KARACHI: The Federal Investigation Agency (FIA) on Thursday claimed to have arrested two suspects for their alleged involvement in hawala/hundi business and running an illegal currency exchange.
A spokesperson for the FIA said their Corporate Crime Circle raided a place on Allama Iqbal Road and arrested Mohammad Nadeem and recovered “millions of rupees” from his possession, adding that he was linked with a hawala/hundi network.
During initial probe, it transpired that the illegal currency exchange network was being operated from Dubai and being run through agents (riders), the FIA statement said and added that receipts and mobile phones had also been seized from his custody.
The suspect also failed to satisfy the FIA about the recovery of huge quantities of the local and foreign currency.
The spokesperson said the suspect had “confessed” that he was working as a rider for two agents namely Haseeb and Sudais. On his pointation, a raid was conducted on a jewellery shop. During both the raids, over Rs70 million and $11,900 was recovered.
Published in Dawn, May 23rd, 2025