Federal Investigation Agency (FIA) Cyber Crime Wing (CCW) has arrested a person in Karachi who scammed hundreds of people of millions of rupees in a bitcoin trading fraud.
Zafar Rana, the suspect, used to trick people on YouTube by convincing them to invest in bitcoin in exchange for large profits. He took 10,000-50,000 Euros per person under the guise of investment and laundered the money in Dubai and Turkey.
Following the victims’ complaints, Zafar fled Pakistan, only to be apprehended by the FIA when he returned. FIA also confiscated two smartphones, a laptop, a passport, nine debit cards, Bittrex and Bitcoin cards, dubious transaction documents, and a luxury car, from his possession.
It also has registered an FIR against him, while further investigation is underway to nab his facilitators.
Last year in December, FIA Khyber Pakhtunkhwa (KP) Zone launched an investigation into the province’s first money laundering case via cryptocurrency. The accused, Danyal Farooq, from the Nowshera district, was apprehended by FIA after a case was registered against him for Rs. 870 million worth of transactions.
Via 24News
