In a major breakthrough, the Federal Investigation Agency (FIA) has unearthed a sprawling money laundering and hawala scandal involving the alleged illegal transfer of over Rs 1 billion, with connections to a prominent media group and a Dubai-based sports channel. The investigation has already led to multiple arrests and the seizure of mobile phones, foreign currency, and other incriminating evidence.
According to the First Information Report (FIR No. FIR-CBC-KHI-10/26) registered at the FIA’s Commercial Banking Circle in Karachi, the crackdown began with a raid on February 13, 2026, at a premises in the upscale ZamZama Commercial area of DHA, Karachi. The raid, conducted by a team led by Inspector Muhammad Sohail, resulted in the arrest of three key suspects: Farman Soomro, Bakhtawar Khan, and Nauman Rauf.
During the search, FIA officials recovered a significant amount of cash, including US$15,000 and PKR 485,000. More critically, the digital forensic examination of mobile phones seized from the suspects—an Infinix Note 50, a Samsung Galaxy J5 Pro, and a Samsung Galaxy Z Fold-5—provided the digital trail that exposed a much larger network. The suspects, during initial questioning, “voluntarily admitted that they were involved in Hawala/Hundi activities as well sale/purchase of foreign currency in violation of the Foreign Exchange Regulation Act.”
Sources within the FIA have told media that this initial raid was just the tip of the iceberg. The investigation, designated as Enquiry No. 27/2026, has since expanded to uncover a sophisticated scheme involving dummy companies, foreign SIM cards, and the illegal transfer of funds abroad.
At the heart of the scandal is an alleged transaction of 10 million UAE dirhams (approximately $2.7 million or Rs. 750 million). Investigators claim this amount was moved through a shell company named Tower Sports using the informal hawala system. The timing of the transaction, which coincided with the ICC Cricket World Cup, has raised suspicions that the funds were routed under the guise of media rights payments.
The FIA’s probe suggests that a deal between a local digital marketing firm, Z2C, and the Dubai-based sports broadcaster Ten Sports was used as a cover to channel the money. The funds were then allegedly transferred to local accounts in Pakistan using hawala operators.
The investigation has now reached the doorsteps of Pakistan’s media industry. Mohsin Naeem, the company secretary of one of the country’s largest media groups, Hum News, has been summoned by the FIA for questioning. Sources indicate that investigators believe Naeem played a pivotal role in facilitating the transactions. However, Naeem is currently reported to be in Dubai, and his whereabouts remain a focal point for the investigating team.
In a significant development that adds weight to the allegations, a tweet by a user named Adeel Raja went viral, claiming the existence of “Rs1 billion in secret fund transfers” and mentioning raids, the seizure of mobile phones and computers, and the use of hawala and dummy companies. The tweet has garnered nearly 100,000 views, putting the scandal in the public eye even before official confirmations.
Meanwhile, Z2C, the digital marketing firm implicated in the scandal, has moved to distance itself from the controversy. In an official statement released on Wednesday, the company clarified that it has “no involvement in a matter currently under investigation by the Federal Investigation Agency (FIA).”
The statement emphasized that the individual referenced in recent reports, presumably Nauman Rauf, who was arrested at the scene, “acted strictly in a personal capacity” and that his actions were not related to Z2C’s operations, finances, or clients. The company confirmed that the employee has been suspended from all duties pending the outcome of the legal process. “Z2C is not under investigation,” the statement read, adding that the company operates as a fully compliant entity and will extend full cooperation to the authorities.
All individuals and companies under investigation have denied any wrongdoing. However, with the FIA in possession of digital evidence from the seized phones and a paper trail pointing towards the illegal transfer of funds, the investigation is far from over. Authorities are now working to trace the money trail further and are expected to issue notices to more prominent figures in the coming days.
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