Foreign currency worth Rs 120 million looted

Five armed men including two guards of a private security company here Sunday looted Rs 120 million in the shape of foreign currency notes from a vehicle of Money Exchange company and escaped.

According to police, some staff members of the Money exchange company brought a parcel of the foreign currency from Jinnah International Airport in an armoured vehicle Number LZ 5049.

As soon as the vehicle entered the parking area of Saima Towers, where the exchange company is housed, two guards of a private security company identified as Noor Khan and Hameedullah, and their three accomplices held the staff hostage at gun-point and looted the cash in the vehicle and fled in a jeep stationed there.

The guard were deputed at the Money Exchange company. The accused also snatched the arms and ammunition of the security guards, who were travelling in the armoured vehicle for safety of the currency. Both the security guards were employed by the private security company very recently, police said adding the employers had not informed the police about their personal identification data.

Even their national identity cards were not verified form the concerned agencies and according to initial investigation the accused had managed to get their CNICs with fake residential addresses. Further investigation is in progress, the police said.