Ponzi scheme: NCCIA arrests 149 suspects in Faisalabad raid

The National Cyber Crime Investigation Agency (NCCIA) has arrested 149 individuals during a raid on call centre engaged in a Ponzi scheme, the agency said in its statement released on Thursday.

Of those arrested, 71 are foreign nationals, with the majority identified as Chinese citizens. Authorities say the operation was targeting individuals through fraudulent schemes using digital platforms and phone calls.

According to the agency, the fraudulent call centre was involved in Ponzi schemes and various investment scams. It was being used as a front to deceive the public and lure them into financial traps under the guise of lucrative investment opportunities.

The agency further said that the fraud network was actively misleading people and illegally collecting large sums of money. These funds were being amassed through deceptive practices and unauthorised channels, posing a serious threat to financial security and public trust.

"Through this fraudulent network, the public was being deceived and vast sums of money were being illegally collected," the agency said.

The agency said they were acting on a tip-off about the network, operating in the city of Faisalabad, a manufacturing centre in the east of the country.

It said the raid was at the residence of Tasheen Awan, the former head of the city's power grid.