SC rejects bail plea of cryptocurrency fraud accused

ISLAMABAD: The Supreme Court on Tuesday dismissed a bail petition of a man allegedly involved in a Rs1.70 billion cryptocurrency scam.

An apex court bench, headed by Justice Umar Ata Bandial, reprimanded the National Accountability Bureau (NAB) over an inordinate delay in filing of a reference against the accused.

Justice Qazi Ameen, a member of the bench, termed the anti-graft buster’s inability to file a reference even after the passage of two years “criminal negligence”.

“NAB doesn’t file the reference and the finger of blame is pointed at courts,” he observed.

A NAB prosecutor informed the judges that accused Waseem Zaib received a whopping Rs1.70 billion from citizens and transferred the money into cryptocurrency accounts.

“Why didn’t the National Accountability Bureau (NAB) trace the accused’s assets?” the SC asked the prosecutor.

Justice Qazi Ameen expressed displeasure at the bureau saying, “This is the state of the investigation in a mega scandal. There is no basic information.”

The Supreme Court (SC) directed the National Accountability Bureau (NAB) to file the reference against the accused as soon as possible.

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