The Federal Investigation Agency (FIA) conducted raids on Friday against the illegal financial activities in Peshawar and Timergara.
In the first crackdown at Chowk Yadgar in Peshawar FIA’s Cyber Crime Wing arrested a suspect, Nasir Khan, son of Ibrar Hussain, for running an unauthorised foreign currency exchange business without a valid license.
Authorities recovered Rs2 million in cash, Iranian rials worth 215 million (Rs21.5 crore), and 20 Saudi riyals, along with other evidence.
In a separate operation at Timergara Bazaar, officials apprehended another suspect, Muhammad Owais, son of Mujahid Khan, for operating an illegal hawala hundi network.
During the operation, authorities seized Rs15.05 million, along with foreign currencies including 300 UAE dirhams, 190 Saudi riyals, 100 US dollars, and 20 Omani rials, as well as additional evidence linked to the illegal business.
According to FIA officials, both suspects were involved in unauthorised financial transactions in violation of Pakistani laws. Legal proceedings have been initiated, while further investigations are underway to trace their networks and identify any accomplices.
Senate panel orders investigation into Rs250m cigarette theft in KP
Earlier, a Senate sub committee ordered an investigation into the theft of cigarette cartons worth around Rs250 million from Federal Board of Revenue warehouses in Khyber Pakhtunkhwa.
The directive came during a meeting of the sub committee of the Senate Standing Committee on Interior and Narcotics Control. The meeting was chaired by Senator Saifullah Abro and focused on the reported disappearance of 2,828 cartons of cigarettes from FBR godowns in Swabi and Mardan.
According to Business Recorder, the committee asked the Federal Board of Revenue, the Federal Investigation Agency and regional police to work closely and complete the investigation as soon as possible. Officials were also asked to use geo fencing technology in the area to help identify people who may have been involved in the incident.
During the meeting, Senator Muhammad Talha Mahmood voiced concern that the blame for the theft appeared to be falling mainly on lower level staff. He said that if senior officers were involved, they should also be held responsible.
The senator asked officials to present video footage of the warehouses at the next meeting. He also called for an examination of the assets of staff posted at the facility. According to him, investigators should also try to identify who ultimately benefited from the missing goods, including any industrialists who may have gained from the incident.
FIA officials told the committee that the case was referred to the agency by regional police through the Ministry of Interior. They said the alleged embezzlement involved goods valued at about Rs250 million.
Also read: Financial embezzlement uncovered in Peshawar education project
