KARACHI: The Anti-Corruption Circle (ACC) of Federal Investigation Agency (FIA) busted a money exchange company involved in illegal transfer of money during raids at several offices of Al-Sahara Exchange and seized foreign currency worth Rs94 million approximately.
FIA raiding team was headed by Assistant Director Rashid Khanzada and comprised of inspectors Nabeel Mahboob, Mehbob Jokhio, Khalid Naseem and sub-inspectors Amin Khatak, Manzur-ul-Haq, Irfan Memon and others.
FIA team also confiscated mobile phones, laptops and other electronic devices.
The preliminary forensic of recovered mobile phones and laptops resulted into identification of Telegraphic Transfer messages of trade related foreign remittances to foreign jurisdiction.
The accused Mehboob Rehmatullah- owner of Al-Sahara Exchange- and his son Ali Mehboob have been arrested from the crime scene.
The huge recovery of local & foreign currencies, other incriminating material and arrest of accused hawala operators evinces that Al-Sahara Exchange is involved in illegal business of hawala operator and money laundering.
The Digital Evidences will lead to identification of Transnational Organized Criminal (TOC) network of hawala operators, money launderers, financiers of terrorism, transnational movement of funds, under-over invoicing and other criminal activities b: national organized criminal networks.
An FIR is lodged and investigations are underway.