KARACHI: Federal Investigation Agency (FIA) Commercial Bank Circle (CBC) has arrested four employees in different raids on M/s KGN International and M/s Saqib Prize Bonds for allegedly selling foreign currency illegally.
According to FIA officials, the accused were involved in illegal business of sale and purchase of foreign currency.
FIA-CBC has conducted a raid at shop No501, 5th Floor, Gul Court Market, M A Jinnah Road, Karachi and M/s KGN International – office No 404, Saima Trade Tower, I I Chundrigar Road, Karachi and arrested accused Naveed, Fareed Muhammad and Muhammad Sadiq.
During the raids, FIA recovered hard copies of deposit slips of RMB, soft copies of deposit slips in Whatsapp messages, cell phones, laptops, registers, chits for recording Hawala entries, hard copies of deposit slips of foreign banks and cash amounting to Rs2,582,840.
Another raid has been conducted by FIA-CBC at Shop No 8, Boulton Market Karachi and arrested accused Shehryar of M/s Saqib Prize Bond.
The accused was running his business of sale and purchase of local as well as foreign currencies without a license. A large amount of local and foreign currency has also been recovered from the possession of the accused.
