Day of deliverance: NAB returns Rs462 million to fraud victims, govt depts

Amount recovered through plea bargains, voluntary return in 14 cases.

LAHORE:

The National Accountability Bureau (NAB) on Wednesday returned Rs462.25 million to fraud victims and various government departments.

NAB Punjab Director General (DG) Hasnain Ahmad distributed the amount among the fraud victims and government departments at a ceremony. Senior NAB officials also attended the event.

The amount was given to 1,809 claimants in 14 cases. Over Rs244.1 million were handed over to government departments such as Lahore, Gujranwala, Faisalabad and Multan electric supply companies and the Income Tax Department.

Rs220.071 million was given to victims of the Sheikh Sanatha, Rauf International, Trade Station Securities, Money Marshall and ‘Double’ Shah scams.

The amount was recovered through voluntary return and plea bargains. According to NAB officials, NAB Punjab has established a separate cell to speed up the process of paying the affectees in various cases.

Rs6.7 million was given to Lahore Electric Supply Company, Rs234.1 million to Faisalabad Electric Supply Company, Rs0.988 million to Gujranwala Electric Power Company, Rs0.185 million to Multan Electric Power Company and Rs1.565 million to the Income Tax Department.

Over Rs30.383 million was recovered from Rauf International, Rs10.34 million from Trade Solutions Securities, Rs7.03 million from Nexus Capital Management, Rs113.37 million from Best Brand, Rs2.339 million from Money Marshall Inc, Rs3.881 million from Sheikh Sanatha, Rs0.225 million from Glamour Builders and Rs50.52 million from ‘Double’ Shah.

Speaking at the ceremony, the NAB DG praised the bureau’s investigation teams who had recovered the money.

He urged the public to take extra care while investing their money, especially with non-regulated enterprises, because many risks were involved.

“The electronic and print media should also play an active role in saving people from scams by creating awareness among the masses about corruption and corrupt practices,” he said.

Published in The Express Tribune, June 26^th, 2014.