• FCID probes alleged movement of Rs 23 b overseas

A 34-year-old man arrested over the alleged transfer of approximately US$80 million (around Rs 23 billion) to overseas accounts through telegraphic transfers has been remanded until 17 September.

The suspect, a resident of Maradana, was arrested by the Police Financial Crimes Investigation Division (FCID) in connection with an ongoing investigation into the alleged movement of funds overseas.

According to investigators, the suspect had allegedly transferred the funds to foreign accounts through telegraphic transfer transactions between 2023 and 2025.

The FCID is investigating the circumstances surrounding the transactions, including the source and destination of the funds and the manner in which the alleged transfers were carried out.

The suspect was produced before court following his arrest and was ordered to be held in remand custody until 17 September as investigations continue.

The investigation is focused on an alleged illegal foreign money-transfer operation and the movement of a substantial volume of funds out of the country.

Police are continuing investigations to determine whether other individuals or entities were involved in the transactions and to establish the purpose of the transfers.

Further details regarding the overseas accounts involved and the precise nature of the alleged transactions have not been disclosed as the investigation remains ongoing.