Fresh developments have emerged in the investigation into the murder of businessman Mir Raza Ali, with police now examining whether his reported financial losses in a digital currency business played a role in the high-profile killing.

According to police sources, investigators have learned that Mir Raza Ali suffered a significant loss in his digital currency investments in April. Authorities are now looking into his financial transactions and questioning several individuals who had reportedly invested substantial amounts of money with him.

Investigators believe these financial dealings could provide important clues about the motive behind the murder. However, police have not confirmed whether the losses are directly linked to the crime and say all possible angles remain under investigation.

Officials are also working to unlock Mir Raza Ali's mobile phone, hoping it will contain messages, financial records, contacts, or other digital evidence that could help identify suspects or establish the sequence of events leading up to his death.

High-level probe launched

The investigation has also uncovered important forensic details. Police sources said Mir Raza Ali owned a .30-bore pistol that is currently missing. The bullet recovered during the investigation was also identified as a .30-bore round.

However, investigators have not recovered the weapon used in the shooting, and no spent bullet casing was found at the crime scene. Police believe the missing pistol and the absence of forensic evidence have made the investigation more challenging and are delaying efforts to determine exactly how the murder was carried out.

Mir Raza Ali's body was discovered earlier this week in Karachi's Gulistan-e-Jauhar area with a fatal gunshot wound.

In response to the seriousness of the case, Additional Inspector General (AIG) Karachi Police Azad Khan has formed a high-level investigation team to ensure a thorough probe.

According to an official police statement, SSP SIU/CIA Samiullah Soomro has been appointed to lead the investigation. The team also includes SSP East Zubair Nazir Ahmed Sheikh and SP Investigation East Usman Sadozai.

The AIG has instructed the investigators to examine every possible aspect of the case, identify those responsible, and make arrests without delay. The investigation team has also been authorized to seek assistance from any police officer within the Karachi Range and has been directed to submit daily progress reports on the case.