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Waqar Zaka Denies Allegation To involve In Cryptocurrency Scam 

Zaka told the press that the FBR had his entire net worth on file, and that the FIA Cyber Crime was attempting to prove that money brought into Pakistan legally was fraudulent.

Waqar Zaka Denies Allegation To involve In Cryptocurrency Scam 

Waqar Zaka, a television host and social media activist, denied being involved in a cryptocurrency scam on Friday after a Karachi court issued a non-bailable arrest warrant for him in the Rs173 million cryptocurrency scandal case.

The warrant was issued earlier today, while a court magistrate was hearing a case brought by the Federal Investigation Agency (FIA) based on a Financial Monitoring Unit report (FMU). The warrants were obtained after Zaka, who advocates for Pakistan to recognise virtual currencies as legal tender, failed to appear in court.

The FIA claimed that over the last three years, his bank account had shown a total of Rs 86.1 million in credits and Rs 87.1 million in debt, and that some transactions had come from other nations.

Zaka told the press that the Federal Board of Revenue (FBR) had his entire net worth on file, and that the FIA Cyber Crime was attempting to prove that money brought into Pakistan legally was fraudulent.

He questioned whether money launderers use banking channels to transport their funds to Pakistan. He stated that money was wired to his account via an international remittance banking channel.

While still in the United States, Zaka announced that he will sue all digital sites, including Dawn, for spreading false information about him.

Cryptocurrency scam is a scheme that use cryptocurrency as a means to defraud people.

The Federal Board of Revenue (FBR) is a federal agency of Pakistan that is responsible for the collection of taxes and duties in the country. It is the main agency responsible for tax collection and administration in Pakistan. The FBR was established in 1959 and is headquartered in Islamabad.

The FBR is responsible for the administration of various tax laws, including the Income Tax Act, Sales Tax Act, and Federal Excise Act. It also administers the tax collection and administration of customs duties and other indirect taxes. The FBR works to ensure compliance with tax laws and to enforce penalties for non-compliance.


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