Two held in Shangla for money laundering through bitcoin

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SHANGLA: The Shangla police and the Federal Investigation Agency jointly conducted a raid on a secretly operating digital company in Barkana Shahpur area here, seized the equipment and arrested two persons over involvement in money laundering through the electronic currency bitcoin.Bit
A statement issued by the district police officer, Malak Ihjaz on Wednesday said that following a tip off of local police intelligence, local police team accompanied by FIA team raided on a house at Barkana Shahpur and found illegal Bitcoin installations.
It said, after initial interrogation police seized the digital installation and other machines and arrested two suspects.
The statement said that about 84 different type of softwars were installed in the illegal Bitcoin installations which was supposed to be used for billion of rupees illegal transfer to foreign countries.
It said, the Bitcoin software is a new illegal technique for the money transfer illegally as the government has eliminated all the other sources of money transfer.
According to the statement, police have arrested two accused identified as Ghulam Ahmed, resident of Okara in Punjab and Sajid Sadique Dogar, resident of Lahore and handed them over to the FIA for further interrogation.
DPO Shangla Malak Ihjaz when contacted in this regard, he told The Northern Post that he was informed by a source following that he decided to raid and directed to sub-divisional police officer Alpuri Zahir Khan for raid and also informed FIA officials.
He said, the gang came to Shangla remote area for installation the Bitcoin setup as these areas were less popular and suitable for such illegal work but Shangla police played a vital role and saved billion of national wealth.

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