Hard-earned money: NAB returns looted money to affected persons

The country’s top anti-graft body handed over Rs465 million to 166 people deceived by different housing societies at a ceremony held at its Rawalpindi office on Monday, said a press release.

The National Accountability Bureau (NAB) Deputy Chairperson Imtiaz Tajwar handed over cheques to the affected persons.

He appreciated the efforts of the NAB Rawalpindi for retrieving the embezzled amount from various societies. He urged people to invest only in government-approved schemes.

NAB Rawalpindi Director-General Zahir Shah asked the people to be vigilant and check credentials of such companies before investing their hard earned money.

According to the bureau, Capital Builders CEO Tassaduq Pervez along with others launched “New Islamabad Garden” housing scheme in Sector C-17. They booked more than 3,000 plots in 2005 without getting permission from the Capital Development Authority whereas the company had acquired only 305 kanals at the time of booking of plots.

The NAB investigated the matter on complaints received from public. In order to avoid legal proceedings and arrest, Pervez submitted an application for plea bargain which was accepted by the bureau and subsequently approved by an accountability court.

The accused paid Rs208.67 million as per the agreement against the claims of about 1,145 affected people. The bureau had already returned Rs162.25 million to the affected people in three phases. In the fourth phase, Rs22.89 million were paid to 105 affected persons of the scam on Monday.

In the case of Al-Hamra and Eden Builders, the bureau pursued the management for recovery of Rs1,832.168 million from the present management of Al-Hamra through its chief executive and others. The previous management deceived Shaheen Foundation and its members by inducing them to book plots in their projects and received about Rs1258 million but failed to hand over plots to the foundation rather the land was sold to other parties.

During the inquiry, the present management showed a willingness to return Rs573 million as a profit in addition to the principal amount. In the first phase, they returned Rs366 million and in the second phase, Rs50 million.

In the third case Nauman Aslam, former HBL branch manager at the University of Engineering and Technology Taxila, caused a loss of Rs14.75 million by misusing his authority.

The bureau arrested him on August 4, 2015. He paid off his complete liability. The amount was handed over to an official of the bank on Monday. Baba Fareed Housing Society case involved Rs15.407 million, which had been recovered through voluntary return and paid to 49 affected persons.

In the case of Techno E-Power, Summundri Road, Faisalabad, a loss of Rs2.054 billion was caused of which Rs1.780 billion had been recovered. Rs340.8 million were paid to the NPGCL whereas Rs1.469 billion had already been paid.

In the case of Parliamentarian Enclave Housing Scheme, the bureau recovered Rs3.92 million and paid to nine affected persons on Monday.

The bureau also recovered Rs104.582 million and paid Rs17.25 million to NFML officials. The employees and contractors of the company had embezzled imported urea fertiliser from company godowns in Sindh, Punjab and Balochistan.

Published in The Express Tribune, June 7^th, 2016.