FIA Arrests Members of Fraud Syndicate Involved in Financial Scams

Islamabad:The Federal Investigation Agency (FIA) has successfully arrested key members of a gang involved in a financial fraud scheme targeting foreign companies. The suspects, who posed as seafood and chicken suppliers, managed to scam millions of dollars.

According to an FIA spokesperson, the FIA’s Corporate Crime Circle in Karachi apprehended the members of an organized gang involved in defrauding foreign companies of significant amounts. The arrested suspects – identified as Arif, Saleem Sharq, and Naveed – used fake company advertisements to deceive foreign businesses.

The gang reportedly collected a total of $136,000, 223,035 Chinese Yuan, and 1.9 million Pakistani Rupees through fraudulent activities. The fraudsters targeted companies in countries including China, Sri Lanka, Thailand, Singapore, Hong Kong, Germany, and Kazakhstan. The suspects had created fake companies named “Sugomet” and “Silver Hybrid” to carry out the fraud.

The group utilized Facebook advertisements to promote fake supply offers, tricking foreign companies into believing they were legitimate suppliers. The gang also ran several social media groups to facilitate their fraudulent activities.

The FIA has begun interrogating the arrested suspects and launched operations to apprehend other members of the syndicate. Raids are being conducted to track down additional criminals involved in the scheme.