The Federal Investigation Agency (FIA) has completed its inquiry into a fake private company involved in defaming the China-Pakistan Economic Corridor (CPEC) and defrauding the public.
According to FIA officials, the case involves financial losses exceeding Rs100 million, with two individuals accused of posing as representatives of a company claiming association with CPEC.
The suspects allegedly deceived a complainant by taking Rs5 million in cash and acquiring a commercial plaza valued at Rs20 million. Additionally, they took possession of a house worth Rs45 million and five kanals of land in Sector G-15, bringing the total financial loss to over Rs100 million.
The fraudulent company had no legitimate link to any foreign entity, and the entire scheme was fictitious, aimed at defrauding investors using the credibility of CPEC.
FIA investigations revealed that the accused have a history of financial fraud, with dozens of previous cases already registered against them.
This led to further action, including registration of a new case targeting the fraudulent activities. The agency emphasized that using CPEC’s name to exploit citizens was a serious offense, and the perpetrators were now being held accountable under relevant legal provisions.
Authorities have stated that the inquiry involved meticulous verification of company documents, property records, and financial transactions to ensure that the scheme was entirely fictitious.
The FIA also coordinated with other departments to trace the assets seized by the suspects and ensure proper restitution to the victims.
The agency reiterated its commitment to protecting public interests and safeguarding major development projects like CPEC from reputational harm and fraudulent schemes. Citizens are advised to verify company credentials and exercise caution when approached by organizations claiming association with CPEC or other major national projects.
The FIA’s swift action underscores the importance of accountability and vigilance against fraud, ensuring that such deceptive activities do not undermine economic and developmental initiatives.
