Crime
Pakistani trader sends soil to Chinese company for Rs115mn instead of minerals
Danzo Traders sent containers filled with soil, gravel, and stones instead of precious metal chrome ore
Karachi: The Federal Investigation Agency (FIA)’s Cooperative Crime Circle has arrested a businessman and registered a case on charges of sending 60 containers of soil and gravel to a Chinese company for Rs115 million instead of precious minerals.
According to the Federal Investigation Agency (FIA) officials, a case has been registered against Syed Zeeshan Afzal Bilgrami, owner of M/s Danzo Traders, in the Corporate Crime Circle Karachi and he has been arrested.
The FIR was registered following a criminal inquiry that was initiated on a complaint by Ms Corrine Chen of a Chinese importing company.
According to the case, the accused Syed Zeeshan Afzal Bilgrami, and the Chinese importer Jiangsu Provincial Foreign Trade Corporation signed an agreement on January 17, 2024, under which Danzo Traders Karachi was to export 1,500 metric tons of chrome ore to the said Chinese company in China.
On February 11, Danzo Traders sent a shipment of containers from Karachi port to Xingang port in China, which were filled with soil, gravel, and stones instead of precious metal chrome ore.
According to the case, even before the said shipment reached China, accused Syed Zeeshan Afzal fraudulently executed the said LC held in his company’s bank account, and submitted fake and bogus documents for inspection certificate of quality and VAT deposit in the bank.
According to the FIA, accused Syed Zeeshan not only committed export fraud, but also committed banking fraud by submitting fake, fabricated, and bogus documents for the execution of LC in his favor. The accused not only cheated the Chinese importer but also defamed the name of the nation and the country.
The authorities stated that accused Zeeshan has also been arrested from his office located on II Chandigarh Road.
It is pertinent to note that chrome ore is a natural mineral that contains chromium, iron, and oxygen and is used to make ferrochrome, an important ingredient in stainless steel.