Tale of a trader who earned bad name for Pakistan!

The Federal Investigation Agency FIA’s Cooperative Crime Circle has arrested and registered a case against the businessman for sending soil and gravel in 60 containers instead of minerals to a Chinese company for Rs11 crore.

According to FIA officials, Corporate Crime Circle Karachi has registered a case against Syed Zeeshan Afzal Bilgrami, owner of M/s Danzu Traders, and arrested him. It was initiated on the complaint of Ms Corin Chen, a Chinese import company.

According to the lawsuit, accused Syed Zeeshan Afzal Bilgrami and Chinese importer Jiangsu Provincial Foreign Trade Corporation signed an agreement on January 17, 2024, under which Danzo Traders Karachi was to import 1,500 metric tons of chrome ore to the said Chinese company in China.

On February 11, Danzu Traders sent a shipment of containers from the port of Karachi to the port of Xingang China, which were filled with soil, gravel and stones instead of the precious metal chrome ore.

According to the case, before the said shipment reached China, accused Syed Zeeshan Afzal Bilgrami fraudulently executed the said LC kept in his company’s bank account, submitted fake and bogus documents of inspection certificate of quality and weight deposit in the bank.

Accused Syed Zeeshan Afzal Bilgrami was not only guilty of export fraud but also committed banking fraud by submitting fake, fabricated and bogus documents to execute the LC in his favour.

He not only cheated the buyer but also defamed the name of the nation and the country.

According to officials, Zeeshan has been arrested from his office located on II Chundrigarh Road.