NAB recovers millions in housing scam

LAHORE: NAB Deputy Prosecutor General Accountability Khaleequz Zaman gave a cheque of Rs3.783 million to State Life Insurance Corporation (SLIC) President Muhammad Asghar on Monday.

NAB Lahore has been investigating the SLIC Cooperative Housing Society corruption case, in which 5,000 kanals were sold and purchased at inflated rates. This was done in collusion with officials and patwaries in the area ad resulted in a loss of Rs130 million.

So far, NAB has arrested many individuals found guilty of being involved in this scam. The bureau has also recovered Rs120 million, which has been returned to the society’s administration.

NAB DPGA stated that the bureau’s prosecution wing, which consists of highly professional and hardworking individuals, is the backbone of the institution. Through their sheer hard work, NAB Lahore has recovered approximately Rs477 million from culprits from different cases of corruption, he added.

Published in The Express Tribune, July 31^st, 2018.