On April 15, 2025, the Federal Investigation Agency (FIA) informed an Anti-Terrorism Court (ATC) in Pakistan that Armughan Qureshi, the prime suspect in the high-profile Mustafa Amir murder case, allegedly laundered over Rs210 million through fraudulent bank accounts.
The investigation, presented during a court session inside Central Jail, sheds light on a complex financial crime involving fake call centres, illicit transactions, and cryptocurrency.
FIA Assistant Director Shahid Ali and his team revealed that Armughan operated at least seven bank accounts opened under his employees’ names to conceal his activities. Between January 2023 and September 2025, these accounts facilitated more than Rs210 million transactions. The FIA report detailed how Armughan used fake call centres to deceive foreign nationals, funnelling illicit funds into merchant accounts.
The proceeds were then used to purchase vehicles worth approximately Rs155 million. Authorities have seized two high-value cars valued at Rs110 million as part of the investigation, signalling a significant recovery of assets tied to the crime.
How Armughan Qureshi Allegedly Laundered Millions
The FIA also uncovered that Armughan possessed two offline cryptocurrency wallets—Exodus and Electrum, potentially holding substantial amounts of Bitcoin. However, investigators have been unable to access these wallets due to missing passwords and private keys, leaving the full extent of the digital assets unknown. This discovery raises concerns about the growing use of cryptocurrency in financial crimes, a trend increasingly noted in global law enforcement reports.
During the hearing, Armughan was represented by Advocate Khurram Abbas Awan, who submitted an affidavit to serve as defence counsel. The FIA presented a medical report confirming Armughan’s good health, but his lawyer challenged its accuracy, claiming it did not reflect his client’s true condition. The defence intends to contest the report in court, which may delay proceedings as the investigation continues.
Read: Court Demands Armughan Qureshi’s Data from Crypto Trading Platforms
The FIA’s findings add a new layer of complexity to the Mustafa Amir murder case, linking the crime to a broader money laundering operation. Fraudulent accounts and cryptocurrency highlight the sophisticated methods suspects employ to evade detection. As the investigation progresses, the recovery of additional assets and access to the crypto wallets could provide further insights into the scale of Armughan’s illicit activities.
