The Federal Investigation Agency has exposed a digital fraud ring in Faisalabad involving online investment schemes that siphoned about Rs80 million from thousands of victims, with assets valued over Rs5.5 million recovered.
The Federal Investigation Agency has said it uncovered a digital fraud ring in Faisalabad that allegedly siphoned about Rs80 million from citizens through online investment schemes, while also recovering Rs5.5 million from one bank account linked to the case. At a press conference, FIA Deputy Director Rana Sufiyan Dilbar said the account had been opened in the name of Sharafat Ali, a labourer employed at the suspect’s house, and was used to gather payments through different websites.
According to The Nation, the agency then raided the residence of the main suspect, Ali Ata, in Depalpur, where investigators said they found an online fraud operation with about 10 people working on site. Officials reported recovering Rs13.4 million in cash, 3 kilograms of silver, gold, expensive watches and a car, while property linked to the suspect was also seized. Abid, identified as Ata’s cousin, was arrested, but Ata remained at large.
Dilbar said the wider network was believed to include 12 to 14 people and may have affected roughly 4,000 victims. He added that the group used social media influencers to market the schemes and that website developers and influencers would be brought into the inquiry. The agency said the jewellery, precious metals and other assets were allegedly bought to conceal illicit proceeds, placing the case within its money-laundering mandate.
The arrests come amid a broader FIA crackdown on financial crime. In a separate operation reported by UrduPoint, the agency arrested Abid Ali in an alleged Ponzi and multi-level marketing fraud probe, recovering cash, mobile phones, SIM cards and ATM cards. The FIA’s Economic Crime Wing says it investigates money laundering, Hundi-Hawala, illegal money transfer services and fraud linked to banking business.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
