The Federal Investigation Agency (FIA) Corporate Crime Circle Lahore arrested three individuals involved in illegal hawala and Currency exchange activities during a raid at Race Course Road.
A spokesperson for the FIA said, the arrested individuals have been identified as Muhammad Mohsin, Mubeen Rashid and Zahid. These suspects were found to be part of an international hawala network, which operates in illegal currency exchanges. The investigation revealed that other accomplices of the suspects were operating the hawala network from Dubai. According to preliminary investigations, the suspects were caught red-handed,while receiving and recording funds from their hawala operations on Race Course Road in Lahore.
During the raid, the authorities seized a substantial amount of money, including 12.38 million Pakistani rupees, 20,110 British Pounds, 457 Saudi Riyals and 167 US Dollars. Additionally, several key pieces of evidence were recovered, including chequebook, rubber stamps, receipts and mobile phones, all linked to the illegal hawala operation.
The suspects failed to provide satisfactory explanations regarding the seized currencies. Following their arrest, the FIA initiated further investigations and was conducting raids to apprehend their remaining accomplices. Director FIA Lahore, Sarfaraz Khan Virk, emphasized that individuals involved in activities harming the national economy will not be spared.