ISLAMABAD: The Federal Investigation Agency (FIA) has concluded a major investigation into a fraudulent syndicate that operated a fake company to defame and exploit the China-Pakistan Economic Corridor (CPEC) project, causing financial losses exceeding Rs 100 million.
The agency has registered a formal case against two members of a gang that allegedly seized land and millions of rupees while fraudulently posing as representatives of a CPEC-related company. According to the FIA’s findings, the accused seized a commercial plaza valued at approximately Rs 20 million and extorted Rs 50 million in cash from a complainant. In a subsequent scheme, they also illegally took possession of a house worth Rs 45 million and five kanals of land in Sector G-15.
The investigation definitively revealed that the accused had no connection to any legitimate foreign company involved with CPEC. Authorities described their entire operation as “fake, fictitious, and fraudulent,” designed solely to deceive citizens by leveraging the prestige of the national infrastructure project. The FIA further disclosed that dozens of prior financial fraud cases are already registered against the accused, establishing a pattern of criminal activity which prompted the agency’s current decisive action.
This case highlights ongoing concerns about criminal elements exploiting the names of national projects to target citizens. The FIA has emphasized its commitment to pursuing individuals who engage in financial fraud and damage the reputation of critical national initiatives like CPEC. Further investigations are ongoing to determine if more individuals were involved in the network.
Meanwhile the Anti-Corruption Cell of the Federal Investigation Agency (FIA) has registered a criminal case against Najaf Hamid, brother of former Director General of the Inter-Services Intelligence (ISI) Lt Gen (retd) Faiz Hamid.
