The Federal Investigation Agency (FIA) Corporate Crime Circle has uncovered an illegal currency exchange operation being run from a jewelry shop in Karachi. During a raid at the shop in the Clifton area, FIA authorities seized 40,000 US dollars and Rs 2.3 million, arresting two individuals, Mumtaz Shaukat and Khalid Ayub, who were allegedly involved in the illegal activities.
The suspects were using the jewelry shop as a front for conducting unauthorized foreign currency exchange and gold trading operations, without the required licenses. The arrested individuals could not provide satisfactory explanations for the source of the seized currency, raising concerns over the legitimacy of their activities.
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Following a tip-off, the FIA raided the location, arresting the suspects and registering a case against them. Investigations are ongoing, and the FIA has vowed to continue its crackdown on illegal financial practices that undermine the economy. This raid is part of broader efforts by Pakistan’s law enforcement agencies to tackle illicit financial activities.
Additionally, the FIA’s Immigration team recently arrested Khawar Shehzad, a key suspect in a human trafficking case, at Islamabad Airport. Shehzad, who was allegedly involved in human trafficking and visa fraud, was detained upon his arrival from Oman.
