The fallout from Pakistan’s massive digital financial crisis continues to deepen. Following the initial revelation of an online gambling syndicate operating via digital wallets, detailed investigations have exposed the heavy involvement of Easypaisa’s infrastructure. TechJuice previously reported JazzCash shutting down over 100 aggregator accounts, but now the spotlight has shifted strictly to how the digital gambling ring and insiders compromised Easypaisa to process billions.
Investigators from the Federal Investigation Agency (FIA) filed a First Information Report (FIR) on September 24, 2026, officially exposing a Rs. 119.93 billion gambling network. Scammers actively collaborated with corporate insiders. Consequently, the syndicate bypassed standard security protocols to establish an illegal financial empire.
Easypaisa Insiders Help Digital Gambling Ring
The operation did not rely on brute-force hacking. Criminals allegedly used inside connections. During the official enquiry, the primary accused, Muhammad Zeeshan, made explosive confessions. He revealed that his associate, Viqar Rashid Khan, explored the payment arrangement directly with Easypaisa officials.
Subsequently, the syndicate opened various fictitious branchless corporate accounts with Easypaisa between 2024 and 2025. Zeeshan admitted that they accomplished this with the illicit help of certain Easypaisa officials. The scammers registered these accounts under bogus Single Member Companies (SMCs). Furthermore, they claimed to run legitimate e-commerce and digital marketing businesses.
To fool the system, another accused, Muhammad Hamza Sarwar, developed dummy websites. He used these fake websites to test payment integrations with Easypaisa. Consequently, this testing phase allowed the syndicate to bypass compliance checks and seamlessly connect the bogus accounts to offshore gambling platforms.
The Global Mastermind & Profit Sharing
The network operated on a lucrative profit-sharing model. Viqar Rashid Khan initially pitched the local payment setup on behalf of an alleged Chinese associate named Michael. Michael operated as a global agent for online gaming and gambling platforms.
Initially, the group agreed to a specific profit split. Viqar would take 25%, while Zeeshan and Michael would each receive 37.5%. Later, the arrangement changed to a 50-50 split between Zeeshan and Viqar. Over roughly one year, Zeeshan pocketed Rs. 400-450 million. Meanwhile, Viqar allegedly earned Rs. 100-150 million. Michael’s associate, Shahzaib, reportedly delivered parts of this share in hard cash.
Money Layering & Hawala Networks
Once the Easypaisa corporate accounts collected the funds, the criminals employed complex financial layering. Five branchless collection accounts alone processed approximately Rs. 8.586 billion across nearly 10.490 million transactions.
The syndicate utilized several primary shell companies to move these funds. The FIR identifies 11 major SMCs responsible for the multibillion-rupee turnover.
| SMC Name | Owner Name | Aggregate Credit Turnover (PKR) |
| SMC Martnmarts Pvt. Ltd | Muhammad Zeeshan | 33,653,474,888 |
| Teamsmart SMC Pvt. Ltd | Imran Ali | 21,676,333,462 |
| Housemart SMC Pvt. Ltd | Imran Ali | 13,165,903,710 |
| New Heights Builders and Developers SMC Pvt. Ltd | Muhammad Amir | 13,161,036,516 |
The network transferred illicit funds from these branchless collection accounts into swap accounts at Mobilink Microfinance Bank Limited (MMBL). From there, the money flowed into accounts at Faysal Bank Limited and Dubai Islamic Bank.
Finally, the syndicate disbursed the funds to unrelated sole proprietorships like scrap dealers and mobile shops located in northern areas, including Peshawar and Shahkas. Ultimately, the perpetrators converted massive portions of the illegal funds and settled them through digital hawala and USDT cryptocurrency networks.
