10-26-2008, 09:33 PM
FIA probes illegal currency trading at KSE
KARACHI: Renowned money changers, having offices in the Karachi Stock Exchange, are allegedly involved in the illegal transaction of the foreign currency, official sources of the Federal Investigation Agency (FIA) told Daily Times. According to the sources these money changers have been sending big amounts of foreign currency to other countries through an organised underground network. Additional Director General, FIA Karachi, Khaliquzzaman told Daily Times that a FIA special team on Saturday has conducted investigation with several money changers at the building of KSE and found some solid proofs of their involvement in this malign activity. He told that investigations are underway and the FIA will soon bust this group of organised white-collar criminals. Recently, the FIA, in a raid at New Challi have arrested two people involved in illegal transfer of foreign currency as part of its campaign lodged on the directives of higher authorities. The money changers made Rs 4 billion annually through this illegal trade. FIA sources confided that current investigation of money changers is launched on the confessions of aforesaid culprits. The foreign exchange of the country have been depleting for last six month. Authorities have identified that a cartel is involved in the illegal transaction of foreign currencies, which if aggravating the devaluation of the rupee against dollar. muhammad tasir
http://www.dailytimes.com.pk/default.asp...2008_pg5_7
KARACHI: Renowned money changers, having offices in the Karachi Stock Exchange, are allegedly involved in the illegal transaction of the foreign currency, official sources of the Federal Investigation Agency (FIA) told Daily Times. According to the sources these money changers have been sending big amounts of foreign currency to other countries through an organised underground network. Additional Director General, FIA Karachi, Khaliquzzaman told Daily Times that a FIA special team on Saturday has conducted investigation with several money changers at the building of KSE and found some solid proofs of their involvement in this malign activity. He told that investigations are underway and the FIA will soon bust this group of organised white-collar criminals. Recently, the FIA, in a raid at New Challi have arrested two people involved in illegal transfer of foreign currency as part of its campaign lodged on the directives of higher authorities. The money changers made Rs 4 billion annually through this illegal trade. FIA sources confided that current investigation of money changers is launched on the confessions of aforesaid culprits. The foreign exchange of the country have been depleting for last six month. Authorities have identified that a cartel is involved in the illegal transaction of foreign currencies, which if aggravating the devaluation of the rupee against dollar. muhammad tasir
http://www.dailytimes.com.pk/default.asp...2008_pg5_7