NAB arrests six accused in housing society scam in Lahore
After suspects lured the public in by offering investment opportunities in different nonexistent housing projects
PHOTO: EXPRESS
LAHORE:
The National Accountability Bureau (NAB), Lahore has arrested six property dealers accused of swindling people at large and breaching trust which led to huge financial losses to citizens. The inquiry further revealed that the arrested suspects lured the public in by offering investment opportunities in different nonexistent housing development projects.
The company, against these fake projects, collected huge funds in the name of the mentioned projects without even acquiring formal approval from the Lahore Development Authority (LDA). In this regard, more than 890 victims, with claims of Rs930 million, approached NAB Lahore for the reprisal of their financial loss. Moreover, it was revealed during inquiry proceedings that the owners had authorised 12 dealers, in total, for booking plots and sale of registration forms of said fake projects.
Published in The Express Tribune, May 30th, 2019.
The National Accountability Bureau (NAB), Lahore has arrested six property dealers accused of swindling people at large and breaching trust which led to huge financial losses to citizens. The inquiry further revealed that the arrested suspects lured the public in by offering investment opportunities in different nonexistent housing development projects.
The company, against these fake projects, collected huge funds in the name of the mentioned projects without even acquiring formal approval from the Lahore Development Authority (LDA). In this regard, more than 890 victims, with claims of Rs930 million, approached NAB Lahore for the reprisal of their financial loss. Moreover, it was revealed during inquiry proceedings that the owners had authorised 12 dealers, in total, for booking plots and sale of registration forms of said fake projects.
Published in The Express Tribune, May 30th, 2019.