NAB files reference against Rafique brothers
Says PML-N leaders, others committed fraud, causing Rs590 million loss to general public
Khawaja Saad Rafique and Khawaja Salman Rafique. PHOTO: INP
LAHORE:
The National Accountability Bureau (NAB) has filed a reference against five accused including the Pakistan Muslim League-Nawaz (PML-N) leaders Khawaja Saad Rafique and his brother Khawaja Salman Rafique for their alleged involvement in Paragon Housing Society scam.
In the reference, filed on Friday in an accountability court of Lahore, NAB alleged that the accused – also including Umar Zia, Nadeem Zia and Farhan Ali – committed a fraud, causing Rs590 million loss to the general public.
It said the Paragon City (Pvt) Limited had been declared illegal by the Lahore Development Authority (LDA). The department had clearly directed that the project was unapproved. In a letter to the collector Revenue Department, it had also asked the concerned authorities to disconnect its utility services.
Initially the society was as a company, Debonair (Pvt) Ltd, which was registered with the Securities and Exchange Commission of Pakistan (SECP) in 1997. Later on, the accused got NOC of a housing scheme –Air Avenue Housing Scheme – in favour of Debonair (Pvt) Ltd.
However the scheme was not launched and the land pertaining to said housing scheme was sold to M/s Urban Developers and Eden Developers in the year 2000. Afterwards, Saad Rafique through his wife got another firm – Debonair (AOP) – registered with the Registrars of Firms Lahore Division.
The sale/consideration of land of Air Avenue was received in three bank accounts of Debonair (Pvt) Ltd which were being operated by Qaiser Amin Butt, Salman Rafique, Shamma Nadeem and Nadeem Zia.
The reference said the accused Nadeem Zia and Qaiser Amin Butt were associates of Khawaja Saad and Khawaja Salman. Rafique brothers abetted by other accused established another company – Air Avenue (Pvt) Ltd – through Qaiser Amin Butt and Nadeem Zia while excluding their names from documents and the company was registered with the SECP in 2003.
Two months later, name of the said company was changed to M/s Paragon City.
The accused got approval of M/s Paragon City on the basis of forged documents from TMA Aziz Bhatti Town in 2005. The accused did not own the requisite land at the relevant time and had ownership of land measuring 1,085 kanals only in Mauza Phularwan. Paragon City did not obtain approval from LDA.
The reference also disclosed that Qaiser Amin Butt voluntarily disclosed the facts and circumstances relating to the commission of offences and requested for grant of pardon that was tendered by NAB.
Khawaja brothers wrongfully gained an amount of Rs6.2 million and Rs12 million from Paragon City in their respective bank accounts. They failed to account for the illegal gains received by them during the investigations.
Saad Rafique established a proprietorship concern namely M/s Saadain Associates to disguise the origin of his illegitimate pecuniary benefits. He wrongfully gained an amount of Rs58 million from Executive Builders in last few years under the garb of services of consultancy rendered by Saadain Associates.
Khawaja Salman established KSR Associates to disguise his origin of pecuniary benefits. He received an amount of Rs39 million from Executive Builders under the garb of services of consultancy rendered by KSR Associates.
Executive Builders in a proxy concern of Paragon City (pvt) Ltd and is purportedly owned by accused Umar Zia (brother of accused Nadeem Zia) and Farhan Ali (brother in law of accused Salman Rafique), the reference added.
The National Accountability Bureau (NAB) has filed a reference against five accused including the Pakistan Muslim League-Nawaz (PML-N) leaders Khawaja Saad Rafique and his brother Khawaja Salman Rafique for their alleged involvement in Paragon Housing Society scam.
In the reference, filed on Friday in an accountability court of Lahore, NAB alleged that the accused – also including Umar Zia, Nadeem Zia and Farhan Ali – committed a fraud, causing Rs590 million loss to the general public.
It said the Paragon City (Pvt) Limited had been declared illegal by the Lahore Development Authority (LDA). The department had clearly directed that the project was unapproved. In a letter to the collector Revenue Department, it had also asked the concerned authorities to disconnect its utility services.
Initially the society was as a company, Debonair (Pvt) Ltd, which was registered with the Securities and Exchange Commission of Pakistan (SECP) in 1997. Later on, the accused got NOC of a housing scheme –Air Avenue Housing Scheme – in favour of Debonair (Pvt) Ltd.
However the scheme was not launched and the land pertaining to said housing scheme was sold to M/s Urban Developers and Eden Developers in the year 2000. Afterwards, Saad Rafique through his wife got another firm – Debonair (AOP) – registered with the Registrars of Firms Lahore Division.
The sale/consideration of land of Air Avenue was received in three bank accounts of Debonair (Pvt) Ltd which were being operated by Qaiser Amin Butt, Salman Rafique, Shamma Nadeem and Nadeem Zia.
The reference said the accused Nadeem Zia and Qaiser Amin Butt were associates of Khawaja Saad and Khawaja Salman. Rafique brothers abetted by other accused established another company – Air Avenue (Pvt) Ltd – through Qaiser Amin Butt and Nadeem Zia while excluding their names from documents and the company was registered with the SECP in 2003.
Two months later, name of the said company was changed to M/s Paragon City.
The accused got approval of M/s Paragon City on the basis of forged documents from TMA Aziz Bhatti Town in 2005. The accused did not own the requisite land at the relevant time and had ownership of land measuring 1,085 kanals only in Mauza Phularwan. Paragon City did not obtain approval from LDA.
The reference also disclosed that Qaiser Amin Butt voluntarily disclosed the facts and circumstances relating to the commission of offences and requested for grant of pardon that was tendered by NAB.
Khawaja brothers wrongfully gained an amount of Rs6.2 million and Rs12 million from Paragon City in their respective bank accounts. They failed to account for the illegal gains received by them during the investigations.
Saad Rafique established a proprietorship concern namely M/s Saadain Associates to disguise the origin of his illegitimate pecuniary benefits. He wrongfully gained an amount of Rs58 million from Executive Builders in last few years under the garb of services of consultancy rendered by Saadain Associates.
Khawaja Salman established KSR Associates to disguise his origin of pecuniary benefits. He received an amount of Rs39 million from Executive Builders under the garb of services of consultancy rendered by KSR Associates.
Executive Builders in a proxy concern of Paragon City (pvt) Ltd and is purportedly owned by accused Umar Zia (brother of accused Nadeem Zia) and Farhan Ali (brother in law of accused Salman Rafique), the reference added.