Illegal currency business: FIA nabs three suspects from ‘jewellery shop’

KHANPUR: The Federal Investigation Agency (FIA) has arrested three suspects from a ‘jewellery shop’ for their alleged involvement in illegal currency business, citing sources, ARY News reported on Tuesday.

The FIA Bahawalpur chapter conducted a raid and nabbed three suspects over running illegal trade of foreign currency. The raid was conducted at a jewellery shop in Khanpur city. The raiding team also recovered foreign currency worth millions, sources added.

In September, the agency had arrested a money changer involved in the illegal business of hundi and hawala from Karachi.

READ: FIA CONTINUES CRACKDOWN AGAINST ILLEGAL MONEY CHANGERS

The FIA continued its crackdown against illegal money changers and hawala dealers in Karachi. The FIA Corporate Crime Circle in an action in the Scheme 33 area of the port city arrested a man involved in an illegal money-changing business.

The suspect namely Babar Dosani was carrying out illegal money-changing business from his house in Scheme 33, the FIA spokesperson said about the arrest. $17,000, £14,000 and a mobile phone were seized from his custody, while telegraphic transfer and hundi hawala lists were also recovered from his mobile phone.

The illegal money changer had been acquiring the services of a rider for his business dealings. A case under Foreign Exchange Regulation Act had been registered against Babar Dosani, the FIA said.