Karachi: The Federal Investigation Agency (FIA) Corporate Crime Circle raided a jewellery shop in Clifton, Karachi, and uncovered an illegal currency exchange operation. The raid led to the recovery of $40,000 and Rs 2.3 million in cash.
Two Suspects Arrested
Authorities arrested two suspects, Mumtaz Shaukat and Khalid Ayub, for their involvement in the unauthorized operation. Both suspects were reportedly carrying out foreign currency and gold transactions under the guise of jewellery trading.
Funds Raise Legal Concerns
The suspects failed to provide valid explanations for the large sums of money found during the raid. This raised concerns about the legality of their financial dealings.
KSA Extends $3 Billion Deposit to Support Pakistan’s Economy
Case Registered and Investigation Ongoing
The FIA has registered a case against the suspects and is conducting further investigations. Authorities are determined to trace the origins of the seized funds and uncover any broader network linked to the operation.
FIA Intensifies Crackdown on Financial Crimes
The FIA is ramping up efforts to combat illegal financial activities in Karachi. The agency is committed to safeguarding the economy and curbing practices that pose risks to financial stability.
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