Illegal forex trade: Bail pleas pour in at courts as FIA cracks down

At least 17 suspects have moved district courts in just 20 days of November

LAHORE: The number of bail pleas by owners of illegal forex businesses (hundi) has been increasing in district courts since the Federal Investigation Agency (FIA) accelerated its crackdown against them.

About 17 suspects have approached the courts during the first 20 days of the current month, The Express Tribune has learnt. At least 13 people had gone to courts in October and 11 in September. They all have been granted bails.

The FIA claims to have recovered over Rs35 million from the suspects involved in illegal business of hundi this month alone. The agency has conducted nine raids in different parts of Lahore this month so far, taking 15 people in custody and seizing Rs6.1 million from them.



Talking to The Express Tribune, FIA Administration Deputy Director Khawaja Hammad said the suspects would not be spared and their businesses would be eliminated. “Raids are being conducted and our mission will continue till every single person involved in this business is arrested,” he added.

Since 2015, the agency has registered over 100 FIRs and arrested more than 100 suspects involved in transferring money abroad illegally while confiscating millions of rupees from them.

The suspects have been arrested from Link Road, Model Town, Abbot Road, Landa Bazaar, Misri Shah, Shahalam Market and several other areas of the city.

The agency has also constituted a team comprising Inspector Abdul Qayyum, Muhammad Ishfaq, Shafqat Jabbar and Muhammad Marouf. The team arrested two accused persons, identified as Imran Akbar and Muhammad Khan, from Landa Bazaar for running hundi business and confiscated Rs23.65 million from them.

After their arrests, Imran Akbar and Muhammad Khan also moved the court to get bail orders, contending that they were implicated in a fake case.

While FIA Assistant Director Legal vehemently opposed the bail application, requesting to court dismiss the petition, the judge granted bail to the suspect.

Published in The Express Tribune, November 21^st, 2016.