NAB gives Rs35 million to Shaheen Foundation

Sum coughed up by current bosses of two firms that cheated the foundation and its members

ISLAMABAD: The National Accountability Bureau (NAB) handed over Rs35 million recovered from corrupt elements to Shaheen Foundation.

The sum was recovered from two firms that had cheated the foundation and its 700 members in a high-profile land scam. Following which the case was sent to NAB.

On Friday, NAB Chairman Qamar Zaman Chaudhry presented a cheque for Rs35 million to Shaheen Foundation Managing Director Air Marshal (retd) Jamshaid Khan.



The amount will be distributed among the people affected by the land scam of the previous managements of the Al-Hamra (Pvt) Ltd and Eden Builders (Pvt) Ltd.

Till today, NAB has returned Rs670.242 million to Shaheen Foundation recovered from the present managements of Al-Hamra and Eden Builders.

The previous managements of the said companies had deceived the Shaheen Foundation and its 700 members by inducing them to book plots in their projects and received more than Rs1.25 billion.

The accused failed to hand over the plots to Shaheen Foundation rather the land was sold to other parties and deprived the members of Shaheen Foundation from their hard earned money.

During the inquiry proceeding the present management of Al-Hamra showed willingness to return Rs573.41 million as a profit in addition to principal amount of Rs1.25 billion due to NAB’s efforts.

NAB to date has returned Rs670.242 million to Shaheen Foundation for payment to the victims of the scam.



Air Marshal (retd) Khan appreciated the sincere efforts of NAB for recovering looted money.

Chaudhry said that NAB was committed to recover looted money from corrupt by adopting Zero Tolerance Policy across the board.

Published in The Express Tribune, September 9^th, 2017.