In the local tea shops, folks often chat about online scams known as "pig-butchering" schemes, and these tricks have made their way overseas. Recently, a man in Islamabad came across an investment ad on Facebook, claiming to be from Barclays Bank in the UK. He clicked on it and got pulled into a WhatsApp group, even downloading a so-called investment app they recommended. He started small, investing 12,000 rupees—around 40 dollars—and quickly got a 900 rupee profit. Thinking he’d struck gold, he began pouring more money in.
By the time he realized what was happening, he had lost nearly 19.39 million rupees, roughly over 69,000 dollars. Local police traced the money through various personal and company accounts, including one belonging to a company called BXM International, registered under a Chinese national named Bai Xiaoming.
On September 17, the Islamabad court ruled on the case. Citing local criminal and electronic crime laws, the court found Bai Xiaoming and two Pakistani accomplices guilty of fraud and electronic scams, sentencing each to seven years in prison. Three others were released due to lack of evidence, and nine more suspects, both Pakistani and foreign, are still on the run.
In the streets here, you often see workers on motorbikes checking their phones for get-rich-quick ads after dark. But there's no such thing as a free lunch. Those small returns are just bait, and if you invest heavily, you might end up losing everything.
