KARACHI: The Federal Investigation Agency (FIA) in a crackdown against sugar satta mafia in Karachi has arrested seven brokers involved in sugar heist, ARY News reported on Sunday.
The FIA commercial banking circle arrested four more persons after earlier arrest of three sugar brokers in Karachi. The accused have been involved in causing an artificial sugar crisis, a spokesperson of the FIA said.
The FIA had earlier arrested three brokers Dayaldas, Santosh Kumar and Raj Kumar in Karachi. “All three have been involved in sugar satta dealings,” FIA officials said.
“The accused used social media forums and fake bank accounts for their activities,” FIA Karachi said.
The FIA has filed cases against the accused under the Anti-Money Laundering Act and other relevant laws, according to the FIA spokesperson.
“Their bank accounts have been ceased and other relevant documents have been confiscated,” FIA spokesperson said.
An investigation has been underway against the accused over money laundering, hiding accounts and benami accounts, FIA said.
The investigation agency has got remand of the accused and questioning them in the probe, spokesperson said.
“FIA Commercial Banking Circle had formed an investigation team after reports about the sugar satta mafia activities for illegal hike in the commodity’s rate in the open market,” FIA spokesperson earlier said.
It is to be mentioned here that the FIA Lahore chapter informed FIA Karachi about 23 persons involved in sugar satta scam operating in the port city.
In a letter to FIA chapter in Karachi, the FIA Lahore has highlighted the role of sugar satta mafia in illegal hike in price of sugar across the country.
“In the ongoing month of March over 20 rupees per KG price has been increased illegally.” “With illegal hike in price the public has been deprived of 110 billion rupees,” the FIA Lahore said in its letter.
“All 23 persons have been affiliated with Pakistan Sugar Group, Sugar Merchants and Sugar Traders Group.”