Karachi: New details have emerged in the investigation into the death of young businessman Mir Raza Ali, with investigators examining financial records, CCTV footage, and witness statements to determine whether the case was a homicide or suicide.
According to investigative sources, Mir Raza Ali had reportedly accumulated debts ranging from Rs. 50 million to Rs. 80 million after suffering heavy losses in his business ventures. Authorities say the investigation is ongoing and no final conclusion has yet been reached regarding the cause of his death.
Police obtained CCTV footage showing Mir Raza leaving his business premises in Bahadurabad at around 3:30 a.m. on July 29. Before leaving, he allegedly took a .30-bore pistol belonging to the shop’s security guard from a drawer. He then drove home, where he reportedly left behind his car, smartwatch, house keys, and Rs. 39,000 in cash before booking an online taxi.
Investigators said Mir Raza departed his residence at 4:08 a.m. for Gulistan-e-Jauhar. CCTV footage later captured him walking alone in the area. According to police, he switched off his mobile phone near Johar Mor Hill Top at around 4:22 a.m. and reached Block 2, Gulistan-e-Jauhar at approximately 4:28 a.m.
Authorities are also probing Mir Raza’s financial dealings. Sources claim he was involved not only in the Waflix business but also in digital currency investments, where he had attracted funds from multiple investors and regularly paid profits. However, his cryptocurrency-related business reportedly began suffering losses in December 2025, with significant setbacks occurring in April 2026.
To recover from these losses, Mir Raza allegedly borrowed money from several individuals and became indebted by an estimated Rs. 50–80 million. Investigators also stated that he secured an investment of Rs. 7.5 million from a friend living abroad but allegedly failed to pay the promised returns.
Police have also recorded the statement of Mir Raza’s fiancée. According to investigators, the two remained in contact until 11:30 p.m. on July 28. Around 3:00 a.m., she attempted to contact him again, making more than 40 calls and messages within 20 minutes, but received no response.
Investigators further revealed that Mir Raza had reportedly deleted all of his social media accounts before leaving home. They also confirmed that he transferred Rs. 250,000 to his father’s bank account before departing.
The pistol carried from the security guard’s locker has still not been recovered. However, police found the holster at the scene, which investigators believe could provide crucial forensic evidence.
Another important development came from CCTV footage near the location where the body was discovered. The footage reportedly shows a motorcycle arriving at the deserted site at 3:36 a.m. on July 29, remaining there for approximately 22 seconds, and then leaving.
Based on preliminary evidence, investigators suspect that Mir Raza’s body may have been dumped at the location during the early hours of the morning rather than the incident occurring there.
Police have expanded the scope of the investigation by analyzing CCTV recordings, forensic evidence, and witness statements to identify any suspects and establish the sequence of events.
Investigators also traced Mir Raza’s mobile phone, which had reportedly been discarded on University Road. The phone was found by three laborers, who were later identified by police. The device has been recovered and is now being examined as part of the investigation.
Meanwhile, Mir Raza’s parents have rejected suggestions that their son died by suicide. They insist that he was abducted, brutally tortured, and deliberately murdered as part of a planned crime.
Police say all possibilities remain under investigation, and a final determination will depend on forensic findings, digital evidence, and the completion of the ongoing inquiry.
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