Local court tells FIA to investigate money laundering case against Waqar Zaka ‘fairly’ after it produced ‘insufficient evidence’

Local court tells FIA to investigate money laundering case against Waqar Zaka ‘fairly’ after it produced ‘insufficient evidence’

May 27, 2022 0

What happened:

In April, the Court of Civil Judge and Judicial Magistrate-IN Karachi admonished the Federal Investigation Agency’s (FIA) Cyber Crime Wing for bringing “inadequate” money laundering accusations against Waqar Zaka, and directed the agency to conduct a fair investigation instead.

Details:

The court determined that no claims of money laundering can be ascribed to the defendants, according to the official court decision, and no FIR alleging any predicate offence has been registered or is pending for trial against the accused Waqar Zaka. 

The alleged charges:

Preliminary court order minutes stated that in January 2022, an investigation officer from the FIA Cyber Crime Wing submitted an interim report on money laundering accusations against Wakar Zaka. The case’s summary reveals that the report was received through the State Bank of Pakistan, after which an investigation was launched. The claims centre on Zaka’s involvement in virtual asset/cryptocurrency transactions.

Investigation officer:

The court expressed how surprise it was at the conduct of the investigation officer, who only gathered credit and debit history of the accused’s transactions and has yet to collect any sufficient material showing any violations of multiple sections of FERA, 1947, including restrictions on dealing in foreign exchange.

Mahnoor Tariq
Mahnoor Tariq
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