FIA nabs two for running illegal currency business

Foreign currency of 32 countries including Israeli shekel recovered

KARACHI:

The FIA anti-corruption circle seized currency of 32 countries including Israeli shekel during a raid in Bolton Market and arrested two persons - Ahmed Raza and Faizan Raza - involved in illegal currency trading under the guise of prize bond business.

According to the FIA spokesperson, on the directives of Director FIA Karachi Zone Zaeem Iqbal Sheikh, a crackdown has been initiated against illegal currency dealers under the supervision of Additional Director FIA Anti-Corruption Circle Javed Baloch.

The raiding team recovered Rs0.8 million (Pakistani currency), prize bonds worth Rs0.5 million, Rs4,500 (Indian currency), 5,000 Thai baht, 0.6 million Indonesian rupiah, 2,000 Afghani, 1.7 million Vietnamese dong, 8,000 Mozambique metical, 1,400 Filipino pesos, 1,000 Malaysian ringgit, 4.8 million Iranian riyal, 3,500 Iraqi riyal, 40 Russian ruble, 600 Kenya shilling, 500 Saudi riyal, 150 Qatari riyal, 50 Swiss franc, 50 Norwegian krone, 0.5 million South Korean won, 50 German mark, 250 Egyptian pound, 1,000 Costa Rica colon, 20 Israeli shekel, 900 Nepalese rupees, 30 Hong Kong dollar, 3 Bahraini dinar, 30 Pound sterling, 20 euros, and 500 Syrian pounds.

A case has been registered against the accused in FIA Anti-Corruption Circle Karachi. Further investigation is ongoing regarding the foreign exchange business.

 

Published in The Express Tribune, November 19^th, 2023.