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Police have intensified their investigation into the death of 25-year-old former Institute of Business Administration (IBA) student and aspiring entrepreneur Mir Raza Ali Khan, saying several pieces of evidence point toward the possibility of suicide. However, investigators have not ruled out other possibilities as key questions remain unanswered. The young businessman was found dead with a gunshot wound to his chest in bushes near Shahi Qila in Gulistan-i-Jauhar, opposite the University of Karachi. His body was recovered two days after he was reported missing from his residence in PECHS. According to investigators, Raza had returned home after closing his business in Bahadurabad before leaving again after collecting a pistol from his office. Before departing, he reportedly left the keys to his house and car, along with his wristwatch and some cash for his mother. Police also found that all data on his iPhone had been deleted before his disappearance. The investigation revealed that he booked an online ride to Gulistan-i-Jauhar. The cab driver told police that Raza requested his favourite song during the journey and paid more than the required fare. CCTV footage reviewed by investigators showed him walking alone after being dropped off, with no one seen accompanying him. Police later recovered his mobile phone after tracing it to a person who inserted a SIM card into the device. The individual was detained, and investigators recovered the phone for forensic examination. Authorities also found the holster of Raza’s pistol hanging from a tree near the location where his body was discovered. However, the firearm used in the incident has not yet been recovered. Investigators believe it may have been taken away by someone passing through the area after the incident. The investigation has further revealed that Raza had been facing significant financial difficulties. Police said he had suffered losses worth millions of rupees through business investments and was under pressure to repay investors. Investigators also learned that he had sought a loan of Rs30 million from one investor, but the request was declined. According to statements recorded by police, the investor claimed Raza had spoken about experiencing disturbing thoughts before his death. His fiancée also told investigators that he had become deeply focused on cryptocurrency investments, particularly Bitcoin. She said she sent him a message on the night of his disappearance, but it was never delivered because his phone had already gone offline. Despite the evidence gathered so far, investigators say three major questions remain unresolved. They are trying to determine why Raza chose the isolated location where his body was found, where the missing pistol is, and why forensic experts did not detect gunshot residue on his hands despite the bullet being fired from close range. Officials noted that the body’s partial decomposition may have affected forensic findings.