The Federal Investigation Agency’s (FIA) Corporate Crime Circle Karachi has arrested a suspect and confiscated substantial amounts of foreign and local currency during a raid in Kharadar Gold Market.
The raid was conducted at a shop in the Kharadar Gold Market on the directives of the Director Karachi Zone following a credible tip-off. During the operation, FIA personnel seized 13,000 US dollars, 7,000 UAE Dirhams, 6,000 Saudi Riyals, 1,000 Canadian dollars, and over Rs10.2 million in local currency.
In addition, mobile phones and documents linked to the illegal currency exchange network were recovered.
FIA officials identified the suspect as Bilal Ahmed, who was allegedly running an illegal currency exchange network under the pretext of a jewelry business. According to an FIA spokesperson, the suspect could not provide satisfactory explanations for the source or intended use of the seized cash. Ahmed has been taken into custody for further investigation.
The FIA also disclosed that additional raids are underway to apprehend other individuals associated with the illegal currency exchange network, aiming to dismantle the operation entirely.
