NAB recovers Rs 13.73m from real estate fraudster 

NAB recovers Rs 13.73m from real estate fraudster 
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MULTAN: (APP) The National Accountability Bureau (NAB) has recovered Rs 13,733,749 from an accused involved in a real estate fraud and returned investments of 19 affectees in accordance with market rate in a ceremony here, NAB Multan spokesman said on Thursday.

NAB Multan Director General, SI (M) Brigadier (R) Farooq Naser Awan distributed amount among the affectees in a ceremony held today.

According to details, four accused, including Azhar Hussain Hasnain Zaki, Syeda Shabnam Zehra and Syeda Ambreen Zehra, all directors of Kazmi Associates had launched Ali Garden Housing Scheme in Multan in 2006-07. But colony was neither completed and property was not transferred to clients.

The accused person(s) did not own any land in the scheme rather their father-in-law purchased selling rights in the scheme from the owner of land i.e. Mst. Irshad Begum at the rate of Rs. 40,000 per Marla during 1990s.

However, later when the rates of land were increased, the owner refused to transfer the land to allottees. The affectees submitted a collective affidavit and requested to get their money recovered at present market rate ie Rs 100,000 per Marla which was considered by the Regional Board under chairmanship of DG NAB Multan.

During investigation, accused persons voluntarily confessed to their crimes of collecting money from public without holding land. They subsequently applied for Plea Bargain under section 25 (b) of NAO 1999 which was recommended by DG NAB Multan and approved by Accountability Court Multan.

The original amount of claims received at NAB Multan was Rs. 5,516,000 ie over Rs 5.5 million, however, the amount recovered from the accused at present market rate was Rs 13,733,749 ie 13.73 million, which was almost 2.5 times the original amount.

Talking to affectees and NAB Officers, the DG said that NAB was working very hard to serve justice to public at large as per vision of the chairman NAB.

Affectees who received money included Tariq Rafiq (Rs500,000), Amjad Abbas (Rs 395,000), Haseena Begum (Rs 2,397,500), Malik Muhammad Ashfaq (Rs 410,000), Muhammad Saleem (Rs 775,000), Nadeem Iqbal (Rs 456,250), Muhammad Kaild Abdullah (Rs 790,000), Mazhar Nawaz (Rs 767,500), Shamshad Bibi (Rs 877,500), Shamim Akhtar (Rs 467,500), Muhammad Wazir (Rs 800,000), Malik Sajjad Hussain (Rs 1,542,500), Malik Muhammad Sarfraz (Rs 462,500), Atiq Ur Rahman (Rs 361,111), Muhammad Ashraf (Rs 467,500), Malik Zahoor Alam (Rs 827,500), Muhammad Akhtar (Rs 470,000), Fiaz Ali Khan (Rs 677,500), and Muhammad Javed (Rs 288,888).

 

 

 

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