- Advertisement -
KARACHI, Nov 09 (APP):In a significant development, the Federal Investigation Agency (FIA)’s State Baking Circle – Karachi, conducted a raid in the Jamshed Town area of the megalopolis on Thursday, leading to the apprehension of three suspects engaged in illegal currency exchange activities.
During the operation, the premier investigation agency’s officials seized local and foreign currency amounting to millions. The arrested individuals, identified as Muhammad Asif, Hafiz Faheem, and Imran, were found to be involved in the illicit exchange of both local and foreign currencies without proper licensing.
The recovered currency included 10 million Iranian riyals, 8946 Saudi riyals, and 1280 UAE dirhams. Additionally, Omani riyals, Canadian dollars, and over 0.7 million Pakistani rupees were confiscated from the suspects.
Further investigation revealed incriminating messages related to hawala/hundi on their mobile phones, along with several hawala/hundi registers in their possession. The accused failed to provide satisfactory explanations to the authorities regarding the source of the recovered currency.
Following their arrest, an investigation has been initiated, and authorities are conducting raids to apprehend other individuals involved in the illicit activities.