National Accountability Bureau (NAB) Chairman Lieutenant General (Retd) Nazir Ahmed Butt supervised the distribution of 1,619 pay orders worth approximately Rs462 million among victims of various housing and investment fraud cases at NAB Lahore Office, on Monday.
NAB distributes Rs462m among victims of housing, investment frauds
LAHORE, Jun 08 (APP): National Accountability Bureau (NAB) Chairman Lieutenant General (Retd) Nazir Ahmed Butt supervised the distribution of 1,619 pay orders worth approximately Rs462 million among victims of various housing and investment fraud cases at NAB Lahore Office, on Monday.
The recovered amounts pertained to the Omega Residencia, Eden Housing, Abu Zar Housing Scheme, Formanites Housing Scheme, Model Business Trade Centre and other cases under investigation. The funds were recovered under the supervision of Director General NAB Lahore Mirza Faran Baig to ensure compensation and relief for affected individuals.
Under the first phase of payments in the Omega Residencia case, more than Rs145 million was distributed among 500 affectees through 1,308 pay orders. In the Eden Housing case, Rs397.4 million was disbursed through 150 pay orders. NAB Lahore has so far transferred approximately Rs685.36 million to 5,571 claimants through online banking, while payments to the remaining verified claimants are continuing. Overall, Rs1.4 billion has been distributed among 11,076 affectees in the Eden Housing case to date.
Similarly, in the Suzuki Sialkot Motors case, Rs186.19 million was distributed among victims through 136 pay orders, while affectees of the Abu Zar Housing Scheme received payments amounting to Rs67.5 million. In addition, Rs2.2 million recovered in the State versus Abrar Hussain Jafri case was handed over to DS Postal Service Mianwali.
Talking on the occasion, the Chairman NAB said the bureau remained committed to providing relief to victims of financial fraud, recovering national wealth and strengthening the accountability process. He said reforms were being introduced in the real estate sector and advised citizens to verify the no-objection certificate (NOC), approved layout plan and legal status of land before investing in any housing society or real estate project to avoid fraud.
DG NAB Lahore Mirza Faran Baig said ensuring the transparent, efficient and accountable distribution of recovered funds among affectees remained the bureau’s foremost priority. He expressed NAB’s commitment to taking all possible measures for the timely return of funds and provision of justice to victims.
The bureau will continue its mission of recovering looted national wealth, strengthening an effective accountability system and providing maximum relief to the public, he added.
