KARACHI (HRNW) The Federal Investigation Agency (FIA) on Thursday arrested a man for alleged illicit prize bonds trade, media reported.
The suspect, identified as Sajid Katya, submitted around 5,408 claims of prize money on winning prize bonds, as per FIA spokesperson.
The submitted winning prize bonds were worth Rs240 million, he added.
According to the FIA spokesperson, the suspect carried out transactions worth more than Rs1 billion from 16 different bank accounts and has been accused of converting black money into white money.
He was also suspected of submitting claims on behalf of non-filers.
The investigating agency spokesperson went on to add that the suspect was working as a sales manager in a local market.