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FIA raids money exchange company in Karachi, arrests 8

FIA raided the offices of Bestway money exchange company in Karachi. Source: FILE. 

KARACHI: The Federal Investigation Agency (FIA) has arrested eight suspects over their alleged involvement in the smuggling of foreign currencies worth millions of rupees.

FIA Commercial Banking Circle raided the offices of Bestway money exchange company in Saddar and Gulshan-e-Iqbal areas and arrested the suspects involved in running an illegal ‘hawala hundi’ business.

The FIA team also recovered local and foreign currency from their possession while mobile phones, laptops and other documents were also confiscated.

The arrested suspects include company Director Muhammad Yaseen, Manager Mohammad Adnan, Mohammad Meraj, Osama, Junior Officer Fahad Lamada, Mohammad Athar Mehboob, and cash carriers Saifuddin and Sanaullah.

FIA Sindh Investigation Officer Inspector Arshan Al-Karim said the accused were running illegal hawala/hundi businesses under the guise of a licensed exchange company and were providing US dollars to people of Balochistan without any receipts and entries.

He revealed that two residents of Quetta Saifuddin and Sanaullah used to send these dollars to Afghanistan. FIA also confiscated Rs7.6 million, foreign currency equivalent to Rs3 million, and US $36,394. A case has been registered against them while further investigation is underway.

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