NAB receives Rs19m from housing developer
Amount returned voluntarily by management of housing society
LAHORE:
The Rawalpindi office of the National Accountability Bureau (NAB) has recovered Rs19 million from the management of a private housing developer accused of swindling their customers, The Express Tribune has learnt.
NAB Spokesman Hafiz Muhammad Irfan said that the Sun City Pakistan chief executive officer (CEO) had submitted a Rs30 million voluntary return application under Section 25 (a) of the National Accountability Ordinance, 1999.
Under Section 25 (a), a person can voluntarily come forward and offer to return the assets or gains acquired by him in the course of any offence under the NAB Ordinance prior to the authorisation of investigation against him. “The NAB chairman may accept such an offer and after determination of the amount due from such a person and its deposit with the NAB discharge such person from his liability in respect of the matter or transaction in issue, provided that the matter is not sub judice,” the section states.
“NAB has accepted the application. The management has paid Rs19m and promised to pay the remaining amount soon,” the spokesman said.
He said the amount would be used to provide relief to the people affected by the scam.
The Sun City Pakistan had planned to develop the Green Terraces housing society on 1,000 kanals in Manga tehsil of Rawalpindi district.
However, after the 2005 earthquake, the Ministry of Environment, on the directions of Supreme Court, stopped the scheme. The Environmental Protection Agency granted it clearance in February 2008. Members of the housing society demanded deposits as no development work was carried out from 2005 to 2008. They also submitted applications to the NAB. On receipt of their complaints, the NAB seized 354 kanals owned by the company.
Published in The Express Tribune, October 13th, 2014.
The Rawalpindi office of the National Accountability Bureau (NAB) has recovered Rs19 million from the management of a private housing developer accused of swindling their customers, The Express Tribune has learnt.
NAB Spokesman Hafiz Muhammad Irfan said that the Sun City Pakistan chief executive officer (CEO) had submitted a Rs30 million voluntary return application under Section 25 (a) of the National Accountability Ordinance, 1999.
Under Section 25 (a), a person can voluntarily come forward and offer to return the assets or gains acquired by him in the course of any offence under the NAB Ordinance prior to the authorisation of investigation against him. “The NAB chairman may accept such an offer and after determination of the amount due from such a person and its deposit with the NAB discharge such person from his liability in respect of the matter or transaction in issue, provided that the matter is not sub judice,” the section states.
“NAB has accepted the application. The management has paid Rs19m and promised to pay the remaining amount soon,” the spokesman said.
He said the amount would be used to provide relief to the people affected by the scam.
The Sun City Pakistan had planned to develop the Green Terraces housing society on 1,000 kanals in Manga tehsil of Rawalpindi district.
However, after the 2005 earthquake, the Ministry of Environment, on the directions of Supreme Court, stopped the scheme. The Environmental Protection Agency granted it clearance in February 2008. Members of the housing society demanded deposits as no development work was carried out from 2005 to 2008. They also submitted applications to the NAB. On receipt of their complaints, the NAB seized 354 kanals owned by the company.
Published in The Express Tribune, October 13th, 2014.