FIA busts money laundering network in Karachi

KARACHI: The Federal Investigation Agency (FIA) has busted a major money laundering network in Karachi during a raid conducted in a residential building situated on Shaheed-e-Millat road

According to a statement issued today (Friday), the raid was carried out on a residential building over being spotted by an arrested accused, Abdul Jabbar Memon.

The raiding team has recovered a huge quantity of gold, foreign currency, documents of houses and vehicles. Moreover, the officials also confiscated other assets including a computer, registration book of vehicles and property records.

In this regard, FIA Sindh Director Munir Ahmed Shaikh informed that the confiscated assets, including US Dollar, British Pound, Saudi Riyal, Qatari Dirham, Euro, UAE Dirham, Turkish Lira, Thailand Bhat, gold, and silver, worth more than Rs150 million.

Earlier in July, the Federal Agency intensified its crackdown against money laundering and seized currency worth Rs9.2 million, besides arresting two suspects during a raid in Karachi.

The raiding team had confiscated Rs9.2 million worth currency, five mobile phones, three laptops and transaction records including slips, checkbooks with signatures and stamps.