The Federal Investigation Agency (FIA) Karachi Corporate Crime Circle has arrested a suspect and seized significant amounts of both foreign and local currencies during a raid in the Kharadar Gold Market.
The raid took place at a shop in the Kharadar Gold Market based on credible information, acting on the instructions of the Director Karachi Zone. During the operation, FIA officials confiscated 13,000 US dollars, 7,000 UAE Dirhams, 6,000 Saudi Riyals, 1,000 Canadian dollars, and over Rs10.2 million in Pakistani currency.
Additionally, mobile phones and documents related to the illicit currency exchange operation were recovered.
The suspect, identified as Bilal Ahmed, was reportedly running an unauthorized currency exchange business disguised as a jewelry shop. According to an FIA spokesperson, Ahmed failed to provide any satisfactory explanation regarding the origin or intended purpose of the seized money. He has been detained for further questioning.
FIA authorities also revealed that other raids are in progress to arrest more individuals involved in the illegal currency exchange network, with the goal of completely dismantling the operation.
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