FIA arrests prize bond dealer allegedly involved in Hundi

HYDERABAD: The Federal Investigation Agency has arrested a prize bond dealer and his son while seizing prize bonds worth Rs7.7 million and cash Rs1.7 million during the raid at his shop here at Chhotki Ghitti on Tuesday.

According to official sources, FIA Hyderabad had received information about illegal business of Hawala/Hundi from Tawakul Cash Prize Bond Centre Chotki Ghitti.

On such information, the team of FIA Hyderabad led by Deputy Director Syed Wasi Haider conducted the raid at the pointed out centre and arrested the owner Syed Khalid Shah and his son Saad Shah and also seized the prize bonds worth Rs7.7 million and cash of Rs1.7 million.

After preliminary interrogation, the FIA team released Saad Shah and taken six days physical remand of Syed Khalid Shah from the court of Additional Sessions Judge Hyderabad for further investigation.