FIA challan details alleged Rs1 billion-plus Hawala network involving media companies

The Federal Investigation Agency (FIA) Commercial Banking Circle Karachi has submitted a supplementary preliminary challan before the court,

KARACHI: The Federal Investigation Agency (FIA) Commercial Banking Circle Karachi has submitted a supplementary preliminary challan before the court, detailing an alleged Hawala/Hundi network involving a private television network, an advertising group and a foreign sports channel, with investigators tracing transactions worth more than Rs1 billion and around 10.5 million UAE dirhams allegedly transferred to Dubai through unlawful channels.

Minute Mirror has obtained details of Charge Sheet No. 65/2026, filed in FIR No. 10/2026 before the District and Sessions Judge South Karachi under Sections 4, 5 and 23 of the Foreign Exchange Regulation Act 1947, as amended in 2020, read with Section 109 of the Pakistan Penal Code.

According to the challan, eight individuals have been nominated in the case, including Noman Rauf, a branch/area manager of a private bank’s Zamzama Branch Karachi, Farman Soomro, Bakhtawar Khan, Faisal Ilyas, Muhammad Irfan, Ali Raza, the company secretary of the private television network and its Group Chief Financial Officer.

The company secretary has been declared an absconding accused after allegedly failing to join the investigation despite a notice issued on March 2, 2026.

The investigation reportedly began after Inquiry No. 27/2026 led FIA officials to examine alleged Hawala/Hundi activities involving Farman Soomro and Bakhtawar Khan. On February 13, 2026, an FIA team conducted a raid at Zamzama Commercial in DHA Karachi, where it allegedly recovered US$15,000, Rs485,000 in cash and three mobile phones containing material investigators linked to suspected Hawala transactions.

A second incident was recorded on March 13, when Farman Soomro allegedly arrived at the same bank branch with US$15,000 for exchange without supporting receipts, according to the challan.

Investigators also reportedly recovered WhatsApp communications involving individuals identified as Shaan Abdul Sattar and Farhan alias Raju, along with references to other alleged facilitators.

A major part of the investigation concerns alleged transfers of approximately 10.5 million dirhams to Dubai. FIA alleges that the funds were connected with payments for a foreign sports channel operating through an FZ LLC associated with the private television network. According to the challan, advertising payments linked to cricket broadcasts were allegedly settled through local accounts before being transferred through Hawala channels.

The FIA has also documented 13 cheques and RTGS transactions amounting to approximately Rs839.65 million from the private television network and Tower Sports Private Limited to accounts associated with Media Sensation, Media Tech Solutions and Tech Partner.

The challan further refers to alleged transactions exceeding Rs290 million involving Z2C Group and Brainchild Communications. Investigators are examining whether several business accounts were used to facilitate or layer payments connected with UAE transactions.

Faisal Ilyas, identified as Director Coordination and CFO of Z2C Group, was arrested on February 23, 2026. FIA says two mobile phones and a laptop were recovered from him, along with WhatsApp communications and transaction-related documents.

Ali Raza, identified as CEO of Blitz Advertising and head of finance at Z2C, has also been nominated. Investigators are examining alleged communications concerning foreign-exchange and Hawala rates as well as transactions involving overseas companies.

The supplementary challan seeks adjournment of proceedings under the relevant provisions of the Criminal Procedure Code, stating that the investigation remains incomplete. FIA has said records from Z2C, the foreign sports channel and other entities are still being examined, while the roles of senior management and other individuals will be determined during further investigation.

All allegations contained in the challan remain subject to judicial determination, and nomination or investigation does not by itself establish guilt.