Waqar Zaka declared proclaimed offender in cryptocurrency case

A Karachi court has declared television and social media personality Waqar Zaka a proclaimed offender over his continued absence in a case filed against him by the Federal Investigation Agency over alleged suspicious transactions.

Judicial Magistrate (East) Mukesh Kumar issued perpetual warrants of arrest for the fugitive and stalled the proceedings against him till his arrest or surrender. He declared Zaka a proclaimed offender after recording FIA Inspector Arfa Saeed’s statement about execution of proclamation for the absconder and attachment of his property under sections 87 and 88 of the Criminal Procedure Code (CrPC).

The FIA inspector stated that she tried to trace out moveable and immoveable property of the accused, but to no avail, adding that his proclamation notices were also posted in a conspicuous place as well as on the notice board of the police station.

The magistrate observed that the accused didn’t appear before the court on the specified date and time, adding that he evaded his arrest and there was no immediate prospect of his arrest in near future.

Issuing a perpetual arrest warrant for him, the court directed the State Bank of Pakistan to freeze his bank accounts. The National Database Registration Authority was told to seize his CNIC.

The case was put in a dormant file and can be reopened as and when he is arrested or surrenders. On February 2, the court had declared Waqar Zaka absconder and issued directives for initiating the process of proclamation and attachment of his properties. His lawyer stated Zaka was in New York in connection with a professional engagement and requested the court to condone his absence from the court.

In December, the IO filed a final charge sheet stating that Zaka was allegedly found involved in luring the public into dubious online ‘Initial Coin Offering/Crypt Currency Courses’ and using social media platforms to promote and advise the youth to invest in the speculative risk-based business despite the fact that it was prohibited by the State Bank of Pakistan. The challan stated that Zaka had allegedly used his salaried bank accounts for foreign remittances, suspicious transactions and raising funds.