Zaka was detained by the Federal Investigation Agency (FIA) earlier this year as part of an investigation into potential transactions involving virtual currencies from his bank account. The former TV anchor skipped court on Thursday when the case was heard by the judicial magistrate.
The judge then ordered the office to issue a non-bailable arrest for Zaka, who is reportedly evading capture in the case. The hearing was then postponed until January 5.
According to the FIA, an investigation into Zaka was started after the Financial Monitoring Unit received a source report (FMU).
It stated that over the past three years, an overall balance of Rs 86.1 million in credits and Rs 87.1 million in debts had been seen in his bank account. It also stated that the bank’s statement had shown that the funds were credited into the accounts via international wire transfers and the clearing of checks, and were then debited via internal transfers to the accounts of his various family members.
The article continued by saying that Zaka used social media for fundraising internationally and for charitable causes, through which he got Rs6.8 million. The money was withdrawn via a pay order and an interbank fund transfer, the FIA noted.
According to the agency, it had been proven after reviewing the report, secured documents including copies of the bank records and institutions, and oral testimony that the accused had engaged in fraudulent and dishonest cryptocurrency trading and helped facilitate the use of virtual assets for money transfers and profit-making in violation of national banking laws.
According to the organisation, “whereas, the numerous news articles, blogs, and videos were discovered in a public database which transpires accused Waqar Zaka’s involvement in cryptocurrency/virtual assets.”
It also claimed that the accused “also promotes cryptocurrencies like Bitcoin” and that “Bitcoin/cryptocurrency-related posts were uncovered on his Twitter account throughout the investigation.”
