By: Imran Khan
KARACHI: May 5, 2025
The National Cyber Crimes Investigation Agency (NCCIA) has arrested the main suspect involved in a massive Rs. 290 million fraud against a Karachi-based company. The suspect, reportedly the Pakistan-based frontman of an international fraud syndicate, was apprehended from Multan in a coordinated operation.
According to sources within the Federal Investigation Agency (FIA), the accused had been under investigation for orchestrating a large-scale financial scam under the guise of an international food chain project. The fraudulent scheme involved using the name of a high-ranking Qatari individual to lend credibility to a fake company, thereby deceiving investors and stakeholders.
The FIA disclosed that the accused’s brother and nephew, who are believed to be residing abroad, played significant roles in executing similar frauds in collaboration with him. The case was originally registered in 2023 after the affected company reported substantial financial losses.
In a related development last month, the Regional Tax Office (RTO-One) in Karachi arrested Bilal Imam, identified as the mastermind behind a Rs. 4.2 billion sales tax fraud. He was implicated in multiple scams, including Rs. 1.9 billion with RTO-One and Rs. 2.3 billion with the Large Taxpayers Office (LTO). Separate FIRs were registered by both tax bodies.
Bilal Imam had been on the Federal Board of Revenue’s (FBR) radar for over 18 months. Following his arrest, he was presented before the Special Court for Customs, Taxation, and Anti-Smuggling, which granted a four-day physical remand for further investigation.
Both arrests reflect growing concern over the rising trend of organized financial fraud in Pakistan, often with cross-border elements. Authorities reaffirmed their commitment to continue the crackdown on economic crimes and bring all culprits to justice.
