Karachi police say they have made significant progress in the investigation into the death of businessman Mir Raza Ali Khan, with investigators now leaning strongly towards suicide rather than murder based on forensic, digital and circumstantial evidence.

According to investigative officials in District East Police, the case has been “largely resolved” and a detailed press conference is expected within the next 24 to 48 hours after obtaining approval from senior authorities.

Police lean towards suicide

Senior investigators said they are around “90 per cent” confident that Mir Raza died by suicide, adding that the evidence collected so far does not support the murder theory.

Officials said senior police officers are also satisfied with the direction of the investigation, although the probe has not yet been formally concluded.

The development comes despite the victim’s father, Hussain Raza, repeatedly maintaining that his son was murdered and rejecting earlier medical findings.

Financial distress emerges as key factor

According to investigators, Mir Raza had been under severe financial stress and was burdened with substantial debt.

Police said they recovered a text message allegedly sent by the businessman to a well-known Karachi builder, in which he sought a loan of Rs30 million.

In the message, Mir Raza reportedly wrote: “This is a matter of life and death for me.”

Investigators believe the message reflects the financial pressure the businessman was facing before his death.

Police sources further claimed that creditors had been exerting pressure on Mir Raza over outstanding liabilities.

Officials also alleged that the victim’s family had previously experienced financial difficulties, claiming his father had faced heavy debts in the past and that some liabilities had earlier been settled before the parents separated. Police, however, have not suggested that these claims are directly linked to the death.

CCTV footage and missing pistol

Investigators have obtained additional CCTV footage recorded at around 8am on July 29, nearly three hours before police were informed about the body.

According to police, the footage shows a garbage collector near the body before it was discovered.

Investigators suspect the individual may have picked up the victim’s pistol from the scene and are attempting to trace and identify him.

Police earlier said Mir Raza’s body was reported to authorities at around 11am on July 29.

Apple Watch unlocked

In another breakthrough, investigators said the Counter-Terrorism Department (CTD) Sindh successfully unlocked Mir Raza’s Apple Watch, allowing police to retrieve important digital evidence.

According to officials, the recovered data includes financial records and transaction-related information that could help investigators establish the victim’s financial condition and activities before his death.

Police said Mir Raza’s mobile phone and smartwatch had been recovered during the investigation. While data had reportedly been deleted from both devices, investigators have so far been unable to crack the passcode of his iPhone.

Investigation continues

Police have detained 19 individuals, including the victim’s business partner, friends and people who were seen near the crime scene, as part of the investigation.

Earlier, investigators also obtained the call detail records of Mir Raza’s last 15 phone contacts, carried out geofencing around the crime scene and collected multiple CCTV recordings to reconstruct his final movements.

Preliminary post-mortem findings estimated that the body was 24 to 36 hours old at the time of examination.

The report documented a close-range gunshot wound to the chest, with the bullet exiting through the upper back, along with other injuries that investigators have been examining alongside forensic and digital evidence.

Police said the investigation remains open until the final findings are formally announced, with a detailed briefing expected in the coming days.