Hawala, hundi network busted in Karachi
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The Federal Investigation Agency (FIA) Monday busted a network of people involved in the illegal hawala and hundi business in Karachi, reported 24NewsHD TV channel.
The action was taken by the Corporate Crime Circle team of FIA that raided a trading company’s office on I.I Chundrigarh road in Karachi.
FIA have arrested seven members of the network involved in the illegal money trade in Karachi, Lahore and Quetta.
The detained suspects were identified as Sajid Ismail, Kalam Badshah, Saqib Ahmed, Raza, Zulfiqar Ali, Nauman, and Shafiq.
A whopping Rs4.96 billion worth of transactions were carried out through four bank accounts owned by Waris Khan, the owner of a private firm.
Three members of the network, Awal Khan, Waris and Taimur Khan, are on the run.
An FIR has been registered against the suspects. The FIA has obtained physical remand of the arrested suspects until Jan 6 for investigation.
Reporter: Saud bin Murtaa