A deal was reached between the businessman and the Chinese company on January 17 this year
The Federal Investigation Agency (FIA) has arrested a businessman who cheated a Chinese company in Karachi.
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According to media reports, the FIA’s Crime Circle staff has arrested the businessman and registered a case on the charge of defrauding a Chinese company by putting soil and gravel in containers for Rs 110 million instead of the necessary minerals.
According to FIA officials, a case has been registered against Syed Zeeshan Afzal Bilgrami, owner of M/s Danzu Traders, in the Corporate Crime Circle Karachi. The FIR was registered after a criminal inquiry which was initiated on the complaint of Ms. Corrine Chen, a Chinese importer company, M/s Danzu Traders.
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The case stated that an agreement was reached between accused Syed Zeeshan Bilgrami and Chinese importer Jiangsu Provincial Foreign Trade Corporation on January 17 this year, under which Danzo Traders Karachi was to import 1,500 metric tons of chrome ore to the said Chinese company in China.
Then on February 11, Danzo Traders sent a shipment of containers from the port of Karachi to the Xingang China Port, which contained soil and gravel instead of the precious metal chrome ore.
According to the case, even before the said shipment reached China, accused Syed Zeeshan Afzal Bilgrami fraudulently executed the said LC held in his company’s bank account, submitted fake and bogus documents for inspection certificate of quality and VAT deposit in the bank.
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It was stated in the case that the accused Syed Zeeshan not only committed export fraud but also committed banking fraud by presenting fake, fabricated and bogus documents to execute the LC in his favor. The accused not only defrauded the Chinese company but also defamed the name of the nation and the country.
According to the authorities, the accused Zeeshan has also been arrested from his office located on II Chandrigarh Road.
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