A local court in Islamabad has granted pre-arrest bail to two brothers accused in a $37,000 cryptocurrency fraud case, following allegations of digital financial deception involving online investment schemes. According to the case details, the suspects were accused of defrauding an Islamabad resident by luring him into cryptocurrency investments with promises of high returns. The …
$37,000 Crypto Scam Case: Nawaz & Shehbaz Sharif Secure Pre-Arrest Bail
A local court in Islamabad has granted pre-arrest bail to two brothers accused in a $37,000 cryptocurrency fraud case, following allegations of digital financial deception involving online investment schemes.
According to the case details, the suspects were accused of defrauding an Islamabad resident by luring him into cryptocurrency investments with promises of high returns. The complainant alleged that he was persuaded to transfer funds through digital wallets linked to Binance and BNB, after which the promised profits were never delivered.
The National Cyber Crime Investigation Agency (NCCIA) registered an FIR against the accused after receiving complaints of financial fraud carried out through online communication channels, including foreign WhatsApp numbers and crypto trading platforms.
The accused, identified as Nawaz Sharif and Shehbaz Sharif (residents of Bahawalnagar), approached the District and Sessions Court in Islamabad to seek protection from arrest during the investigation process. The court accepted their plea for interim relief and granted pre-arrest bail against surety bonds.
The court directed both parties to present their arguments in upcoming hearings while instructing the NCCIA to submit the complete investigation record. The bail has been granted temporarily, ensuring the suspects cannot be arrested until further proceedings conclude.
The case highlights the growing concern over cryptocurrency-related scams in Pakistan, where fraudsters often exploit digital platforms and lack of awareness among investors. Authorities have been tightening monitoring mechanisms under cybercrime laws to curb such financial crimes.
The hearing will resume in early May, where further legal proceedings are expected to determine the direction of the investigation.
