The National Accountability Bureau (NAB) in a major development has distributed Rs341 million to Bankers City Housing Scheme scam victims.
According to NAB the money was distributed in a ceremony that was chaired over by its chairman retired Lt-Gen Nazir Ahmed.
During this ceremony amount of Rs341 million was distributed among 476 victims as Rs120 million were handed over to 316 applicants via payment orders and Rs221 million were transferred to 160 applicants through online transactions.
As per details, the remaining recovered funds will continue to be distributed to the rest of the 2,200 victims after due verification.
The NAB said, “The Bankers City scandal was first surfaced in 2006, leading to a formal investigation in 2007 following numerous public complaints. The housing society had been registered with the Securities and Exchange Commission of Pakistan (SECP) in 2003 and claimed to possess 14,000 kanals of land in Islamabad, Rawalpindi and Haripur”.
After the investigation NAB successfully recovered a total of Rs1.209 billion from the accused. Efforts are underway to recover more money.
According to NAB press release “In an exceptional achievement, NAB has returned an amount to the victims that is two and a half times greater than their original investment.
While appreciating the efforts of NAB’s investigation team led by Director General, NAB Islamabad/Rawalpindi Waqar Ahmed Chuhan, the NAB chief admired the contributions of prosecutor general accountability for keeping the case alive.
He also thanked Lahore High Court, Rawalpindi bench for dismissing the appeal of accused and returned the case back to trial court in the interest of public at large.
Addressing the participants, the NAB chairman expressed his personal satisfaction in seeing justice served in a case that many believed had no hope of resolution.
“NAB was a people-friendly institution committed to protecting the life-long savings of the public and warned that the bureau will continue to pursue those who deceive innocent citizens” he added.
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