FIA crackdown on money launderers, hundi hawala agent nabbed
FIA crackdown on money launderers, hundi hawala agent nabbed
KARACHI, Feb 18,2022- FIA Corporate Crime Circle, in an operation arrested accused Babar Dossani for trading in hundi and illegal currency.
The FIA, Corporate Crime Circle, Karachi, was informed by undercover sources that Babar Dossani, who was involved in buying and selling hundi hawala and foreign currency under the guise of car showroom.
After filing Inquiry No. 10/2022, FIA, Corporate Crime Circle, Karachi raided a private hawala / Hundi agent Babar Dossani son of Iqbal Dossani’s car showroom Messrs. Dosani Motors located at Shop No. 4, FL-23, Gulshan Jamal, Rashid Minhas Road.
The accused was engaged in illicit business of hawala hundi under the guise of car showroom without any bill / slip, in violation of Foreign Exchange Regulation Act (FERA) 1947.
A search of the car showroom turned up a large amount of foreign currency as well as invoices and Pakistani rupees. This icnluded USD 72,539, British Pound 26,050, Saudi Riyal 20,218, Emirati Darham 111,69, Turkish Lira 34,000, and Pakistani Rupees 2194,000.
Examination of the confiscated documents as well as the records obtained from the accused’s mobile WhatsApp revealed that the accused was involved in the illicit business of transferring foreign remittances abroad and various foreign currencies including US dollars. Selling / supplying to various individuals / parties without issuing any receipts / slips.
A case against the accused Mohammad Babar Iqbal Dosani son of Mohammad Iqbal Dossani was registered under Section 4/5/23 FER Act 1947 and Section 3/4 of the Anti-Money Laundering Act (Amendment 2020) and Section 109 of the Pakistan Penal Code. Has been arrested.
The accused is under further investigation.
