A Karachi courtroom issued on Thursday a non-bailable arrest warrant for tv and social media character Waqar Zaka in a case pertaining to an Rs86 million cryptocurrency rip-off.
Earlier this 12 months, the Federal Investigation Company (FIA) had booked Zaka in reference to an inquiry into alleged digital currency-related transactions from his checking account.
On Thursday, when the matter was taken up by the judicial Justice of the Peace, the previous TV host failed to seem in courtroom.
Subsequently, the decide directed the workplace to situation a non-bailable arrest for Zaka — who’s allegedly absconding to keep away from his arrest within the case — and adjourned the listening to until Jan 5.
Inquiry towards Zaka
The FIA has stated that an inquiry was initiated towards Zaka upon the receipt of a supply report initiated by the Monetary Monitoring Unit (FMU).
It acknowledged that over the past three years the aggregated credit of Rs86.1 million and debt of Rs87.1 million had been noticed in his checking account, including that the financial institution’s assertion revealed that the funds had been being credited into the accounts by means of international remittance and clearing of cheques, which had been subsequently debited by means of inner switch to the accounts of his completely different members of the family.
It went on to say that Zaka used social media for charity functions and worldwide crowdfunding — by means of which he acquired Rs6.8 million. FIA added that the cash was withdrawn by means of a pay order and interbank fund switch.
“Whereas, the a number of information, blogs, and movies had been discovered on a public database which transpires involvement of accused Waqar Zaka into cryptocurrency/digital belongings”, alleged the company.
“In the course of the inquiry, Bitcoin/cryptocurrency-related posts had been discovered on his Twitter account, the accused additionally promotes cryptocurrency like Bitcoin”, it additional alleged.
The company maintained that after inspecting the report, secured paperwork corresponding to copies of the financial institution data and establishments, and oral proof, it had been substantiated that the accused — in violation of banking guidelines and rules and prescribed regulation of the nation — fraudulently and dishonestly dedicated the offences of digital belongings/cryptocurrency buying and selling and facilitating to make use of digital belongings for transferring funds and producing income.
It added that after the inquiry was initiated and the accused was summoned, he initiated false propaganda towards the establishments of the state and was discovered concerned in unlawful actions by means of social media by placing up objectionable materials/remarks towards the establishments, threats to the federal government officers and upsetting the general public towards the state.
He was allegedly discovered responsible of committing the offences punishable below the Pakistan Digital Crimes Act, 2016, Pakistan Penal Code, Anti-Cash Laundering Act 2020 and Overseas Change Regulation Act 1947, FIA added.
