FIA arrests ‘Hawala agent' in Karachi, recovers cash

KARACHI: The Federal Investigation Agency (FIA) on Thursday arrested a man from city’s Saddar area over his suspected involvement in transactions through illegal ‘hawala and hundi’ business, ARY News reported.

Identified as Muhammad Khalid, the accused works for a private trade company. The FIA raided his office in Saddar’s Kohinoor market and found Rs 4 million cash.

The FIA team also found cheques of Rs 10.5 million. The investigators seized laptop, foreign currency and other documents from his office.

Further investigation is underway.

Read: FIA arrests man involved in ‘hundi’ business

The FIA has been taking actions against elements involved in the illegal business of hawala and hundi in different cities.

On March 28, the FIA arrested four people involved in transactions through illegal Hawala and Hundi method in Multan.

The FIA arrested the accused persons and they were identified as Saleem Nawaz, Ajmal, Sarfraz and Abdul Rehman. According to FIA, foreign currency notes and transaction record were recovered from arrested suspects.

In a similar action on March 23, the Federal Investigation Agency had arrested a man from Karachi’s Manghopir area, who was involved in Hawala and Hundi business.

The commercial banking circle of the FIA had conducted the raid and arrested one suspect. The man who was arrested was running a Hundi business on pretext of his shoe shop.

Receipts of Rs 10.25 million were also found from his possession. FIA said several cheques, including those of benami accounts transactions were also recovered from him.