A Turkish national named Metin Tekin was swindled of Rs.12 million while he was returning from a money exchange in Karachi on Tuesday.
The conmen posed as intelligence officials and took away the money on the pretext of search, SSP South Asad Raza said.
SSP South Asad Raza said no weapons were used and there was no resistance from the victim.
Metin lives and works in Karachi and came to the police station to report the robbery.
He said that the conmen came in a car and stopped him near Kakar Hotel on Abdullah Haroon Road.