The Federal Investigation Agency (FIA) has uncovered solid proof of large-scale money laundering involving Armughan Qureshi, who is facing charges in the Mustafa Amir abduction and murder case. FIA submitted an interim charge sheet to the Anti-Terrorism Administrative Court at Karachi Central Jail, detailing his involvement in financial crimes.
FIA reports that Armughan and his partners impersonated officials from various US government departments to defraud American citizens. He ran multiple call centres and launched his own company in 2018 to scale the operation. Through these setups, he reportedly earned between $300,000 to $400,000 per month.
To hide the illegal earnings, Armughan shifted a major chunk into cryptocurrency. He owned eight vehicles worth over Rs154 million. FIA investigators recovered 18 laptops and fake call centre scripts from his operations.
Read More: Armaghan’s Father Advised Him to Flee After Mustafa’s Murder: IO
Scam Operations Expanded through Foreign Agents
Armughan recruited two foreign agents, Lisa and Sophie, to grow the scam. Together, they created a fake company called “Trademark Comin” that targeted American citizens. According to the FIA, this company generated an estimated $25 million annually.
He hired call centre agents with salaries starting at $75,000 and going up to $450,000. He processed these payments through third-party financial channels. Additionally, Armughan operated a business account under the name Kamran Qureshi at Truist Bank in Maryland, USA, claiming it was for “software services.”
He also used other accounts under the name “CRUZERS,” which connected to at least seven merchant terminals and payment gateways. He disguised fraudulent transactions using misleading payment labels like “US Patent Trademark” and “US Trademarks.”
Cryptocurrency Used to Mask and Move Illegal Funds
Once the funds landed in bank accounts, Armughan converted them to Bitcoin via Coinbase. He then transferred them to crypto wallets on Paxful and Noones. Finally, he converted the money into fiat currency or USDT and routed it to different parties.
FIA disclosed that he spent the laundered money on property purchases, employee salaries, and commissions. He used email IDs such as therealboss1111@protonmail.com and sarwathussain009@outlook.com to register wallets and manage illegal transactions.
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