The National Cyber Crime Investigation Agency (NCCIA) has arrested several foreign nationals in Karachi for their alleged involvement in a Ponzi scheme, following a coordinated operation with intelligence and law enforcement agencies.
The raids were carried out in Defence Housing Authority (DHA) Phase 1 and Phase 6, where authorities believe the suspects were operating a well-organised fraudulent investment network.
Officials explained that Ponzi schemes lure victims by promising unrealistically high investment returns, paying earlier investors with money collected from new participants. Such schemes eventually collapse, leaving most investors with heavy financial losses.
During the operation, investigators recovered sensitive digital data, including electronic devices and records, which are now being examined to identify the full scope of the network and trace additional suspects. Preliminary findings suggest that thousands of people may have been affected by the operation.
This is not the first major crackdown of its kind. In July, NCCIA dismantled another Ponzi scheme in Faisalabad, arresting 149 suspects, including 48 Chinese nationals. Earlier this year, the National Accountability Bureau (NAB) Lahore also launched action against several entities involved in fraudulent financial schemes.
Authorities noted that while the original Ponzi scheme model dates back to the 1920s, modern versions have shifted online, using digital platforms and social media to attract victims more quickly and on a larger scale.
Officials confirmed that further arrests and legal action are expected as investigations continue and warned the public to remain cautious of investment offers that promise guaranteed or unusually high returns.
