Court Declares Waqar Zaka Proclaimed Offender In Crypto Case

If you don’t know about Waqar Zaka Crypto Case, let’s dig into it. Back in December, a final charge sheet was filed by IO stating that Zaka was allegedly involved in luring the public into dubious online ‘Initial Coin Offering/Crypt Currency Courses’. He was accused of using social media platforms to promote and advise the youth to invest in risk-based business despite the fact that it was prohibited by the State Bank of Pakistan. The challan even revealed that Zaka allegedly used his salaried bank accounts for foreign remittances, suspicious transactions, and raising funds. According to the latest reports, we have come to know that the Karachi court has declared Waqar Zaka a proclaimed offender over his absence in a case filed against him by the FIA.

What We Know So Far Regarding Waqar Zaka crypto Case

The judicial Magistrate Mukesh Kumar has recently issued perpetual warrants of arrest for the fugitive. He has even stalled the proceedings against him till his arrest or surrender. Zaka has been declared a proclaimed offender under sections 87 and 88 of the Criminal Procedure Code (CrPC).

The FIA inspector stated that she has tried very hard to trace out the moveable and immovable property of the accused. Even though, his proclamation notices were posted in a conspicuous place and on the notice board of the police station as well. The magistrate said that the accused didn’t appear before the court on the specified date and time. He has been evading his arrest.

The court has directed the State Bank of Pakistan to freeze his bank accounts together with an issued perpetual arrest warrant for him. NADRA was also directed to seize his CNIC.

The point worth mentioning here is that his case was put in a dormant file and can be reopened as soon as he is arrested or surrenders. On February 2, the court issued directives for initiating the process of proclamation and attachment of his properties. The point notable here is that his lawyer said that Zaka is in New York due to a professional engagement and requested the court to condone his absence from the court.

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