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Dodging illicit cash, Pakistan startups seek VCs for funds
Published Tue, May 9, 2017 · 09:50 PM
Karachi
AFTER banks in Pakistan turned down his loan applications for his fledgling advertising company seven years ago, Faraz Khan found plenty of "private investors" willing to back his vision.
The catch, however, was that a lot of the cash was illicit and accepting it would have made his company, Gizelle Communication Ltd, a money launderer.
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