The Federal Investigation Agency (FIA) has apprehended a trader from Karachi for scamming a Chinese company of Rs. 115 million by shipping soil and gravel instead of chrome ore.
The suspect Syed Zeeshan Afzal Bilgrami, owner of Danzu Traders, was arrested from his office on I.I. Chundrigar Road following a complaint lodged by Jiangsu Provincial Foreign Trade Corporation, a Chinese import firm. Company representative Corin Chen complained about the issue.
Investigations revealed that Bilgrami signed an agreement on January 17, 2024, to export 1,500 metric tonnes of chrome ore to the Chinese company. However, in February, Danzu Traders dispatched a shipment of 60 containers from Karachi Port to Xingang Port in China. Instead of chrome ore, the containers were found to be filled with soil, gravel, and stones.
Chrome ore is a valuable mineral used to produce ferrochrome, a key component in stainless steel manufacturing.
Before the fraudulent shipment reached its destination, Bilgrami allegedly executed the Letter of Credit (LC) held in his company’s bank account using forged inspection certificates and fabricated quality and weight documents.
FIA has charged Bilgrami with export and banking fraud, accusing him of deceiving the Chinese company and tarnishing Pakistan’s credibility in international trade. Authorities are continuing their investigation into the case.
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This kind of sick minds need to be removed, rather need capital punishment.
Indeed this is not justified. However most these our friends are also involved in financial frauds and should be monitored by our government.