Housing scam suspect freed

Accountability court orders release after payment of Rs322 million instalment

LAHORE:

A shareholder of a housing society development firm facing investigations over a scam has been freed after a plea bargain.

Yasir Hayat Tarar agreed before an accountability court to pay Rs637 million in three installments and made the first payment of Rs322 million.

According official record, the approval of the society involved in the scam was given by Yasir’s brother Babar Hayat Tarar who was serving as the provincial cooperatives secretary in 2014 and currently in the Senior Member of Board of Revenue (SMBR) Babar Hayyat Tarar.

Yasir had received Rs637 million from citizens for providing them land. According to documents related to the National Accountability Bureau (NAB) investigation, Yasir Tarar owned 80 per cent shares in the firm Asian Developers when the fraud was committed.

The investigation indicated that he entered into an agreement through his front men Muhammad llyas, Arslan Ahmad and Syed Muhammad Aon with the administration of the Professional Cooperative Housing Society as land provider and developer. No record was presented to justify the selection of the developer except an advertisement.

Read: "FIA summons six officials in FGEHA housing scam"

The investigations revealed that the accused received advance payments for the contract through his front men but did not spend any amount from his own pocket for the purchase of the land. The advance payments received from the society members were used for the purchase.

The record shared by sources showed that he provided land measuring 459 kanal and five marla as per 56 registered sale deeds, out of which over 100 kanal fell in a green area and only 358 kanal was available.

The land falling in the green area was sold by him and others on less rates as compared to those charged from the society.

The investigation showed that the land provided to the society was in pieces at a distances from each other, in violation of the agreement, which were not suitable for a housing society. It also surfaced that the land was purchased on exorbitant rates.

The suspect was bound to hand over the developed plots to the society members within 36 months, but no development has been made on the site since June 2018 and no of plot has been handed over. He was also bound to get the approval of the layout plan of the society from the Lahore Development Authority (LDA), but the society is still considered illegal as per LDA record.

The major transactions in the account of the firm were made in cash.

The suspects had by September 30, 2019 illegally received Rs811.237 million from the society against the terms and conditions of the agreement. No document was brought on record regarding payments made to the land sellers, but the statements of sellers who appeared were recorded by NAB.

Earlier this year, the National Accountability Bureau (NAB) Rawalpindi chapter had approved a plea bargain of Rs21 billion from an accused in a fake bank accounts case.

According to the drop scene of occupying government lands in fake bank accounts case, builder Ahsan Illahi had admitted to his crime.

Published in The Express Tribune, February 4^th, 2022.