KARACHI – The Federal Investigation Agency (FIA) has made a bigbreakthrough in the online currency fraud of Rs 3 billion.
FIA on Friday apprehended a principal accused in an online currency fraudinvolving billions of rupees from Karachi.
The suspect, Ghulam Sarwar, was nabbed from Gulshan-i-Iqbal hours before hewas set to leave the country for Saudi Arabia today’s evening.
Sarwar, according to the FIA officials, has committed ‘online electroniccurrency fraud’ amounting to Rs3 billion by looting around 17,000 people inthe country.
A case has been registered against the suspect under the PakistanElectronic Crimes Act-2016 and Sections 420, 109 and 34 of the PakistanPenal Code.
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The accused and other accomplices ran a fake website called ‘Channel Times’showing an address of Italy. They urged people to invest money online andoffered lucrative returns.
FIA’s Additional Director Cybercrime Circle Mohammed Younis explained thatSarwar and his partners had opened several binary accounts for thecollection of money from people, with a promise that the customers would beprovided a handsome profit at the rate of 1.5 per cent in US dollars inelectronic currency (E-currency) on a daily basis, Dawn News reported.
