NAB disburses Rs139m of reclaimed money

NAB Rawalpindi hands out payments to victims of different frauds.


Our Correspondent May 16, 2014
NAB Rawalpindi hands out payments to victims of different frauds. PHOTO: MARIAM ESSA/EXPRESS

ISLAMABAD:


The National Accountability Bureau (NAB) on Thursday distributed a sum of Rs139 million among the affectees of different fraudulent schemes, with an advice of not falling again for unauthorised investment schemes and ending up losing hard earned money.


The disbursements were made by NAB Rawalpindi among the affectees of Capital Builders Pvt Ltd, Islamabad Electric Supply Company (IESCO), Manawan Park Towers and National Fertilisers Marketing Company Ltd (NFML), said a statement.

NAB Director General Rawalpindi Rear Admiral (retd) Saeed Ahmed Sargana handed over cheques to the victims and concerned government departments.

Addressing the ceremony, NAB deputy chairman appreciated the efforts of DG NAB Rawalpindi for actively pursuing the corruption cases and making recoveries of the embezzled amounts.

“NAB was making all-out efforts to recover the looted money from swindlers. However, this practice to invest in unauthorised schemes in greed of more interest and returns on investments must be discouraged,” he said.

He urged the people to invest only in the government approved banking system and investment companies.

NAB Rawalpindi DG Shahzad Anwer Bhatti advised people to be vigilant and check credentials of investment companies before handing over their hard-earned cash to them.

In NFML case, NAB recovered Rs104.582 million and in the first phase Rs78.4 million were paid to NFML victims today. The employees and contractors of NFML embezzled imported urea fertiliser from company’s godowns located in Sindh, Punjab and Balochistan.

In case of Capital Builders, the accused Chaudhry Tassaduq Pervez, CEO of the company, along with others launched a housing scheme, namely ‘New Islamabad Garden’ in Sector C-17 of Islamabad. The company booked more than 3,000 plots in the year 2005 in the said housing scheme without NOC from CDA whereas the company owned only 305 Kanals at the time of booking of plots.

NAB investigated the matter on complaints received from public. In order to avoid arrest by NAB, the accused Chaudhry Pervez voluntarily submitted an application for Plea Bargain (PB) which was accepted by NAB and subsequently approved by the Accountability Court Islamabad.

Published in The Express Tribune, May 16th, 2014.

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