The Federal Investigation Agency (FIA) has formed a nine-member joint investigation team (JIT) to probe an alleged Rs172 billion financial scam. The case reportedly involves call centres operating in Islamabad.
Investigators are examining suspected fake accounts and large financial transactions linked to the case.
They are also investigating claims that billions of rupees moved abroad through cryptocurrencies, including Bitcoin.
FIA Forms Nine-Member JIT
Assistant Director Umar Arsalan will lead the new investigation team.
Assistant Director Law Muhammad Afzal has also joined the JIT.
The other members include Waqas Zamard and Inspector Usman Iftikhar.
Wajahat Sultan and Talat Naseem are also part of the team.
Sub-Inspector Tabish Javed, Liaquat Ali and Danish Sarfraz complete the nine-member JIT.
The team will investigate the alleged movement of billions of rupees.
It will also submit a progress report to the FIA Director Islamabad every week.
FIA Traces 192 Suspected Accounts
Investigators have so far traced 192 bank and microfinance accounts.
The FIA suspects that these accounts may connect to the alleged financial scam.
Officials will examine transaction records to establish the movement of funds.
They will also investigate links between the suspected accounts and the call centres.
The financial trail could help investigators identify other people connected to the case.
Cryptocurrency Transfers Under Investigation
The FIA is also examining suspected cryptocurrency transactions.
Sources claim that individuals may have transferred billions of rupees abroad through digital currencies.
Bitcoin reportedly forms part of the transactions under investigation.
However, investigators have yet to establish the full money trail.
The JIT will examine financial records and other available evidence before reaching any conclusions.
Senior Officials Also Under Scrutiny
The investigation will also examine the possible involvement of senior government officials.
However, authorities have not established any such involvement so far.
The JIT will therefore assess the evidence before making any determination.
Investigators will focus on financial records, account activity and other relevant information.
Case Remained Stalled for Two Years
The case had reportedly remained stalled for around two years.
The FIA’s decision to form a new JIT could now move the investigation forward.
The team will focus on the alleged Rs172 billion financial movement.
It will also examine the 192 suspected accounts and reported cryptocurrency transfers.
Weekly progress reports will allow senior FIA officials to monitor the investigation.
For now, the alleged scam remains under investigation. Authorities have yet to establish criminal responsibility against any individual or organisation.
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