The National Accountability Bureau (NAB) has successfully concluded the long-standing Old housing fraud case, returning recovered funds to victims. The fraud, which involved fake documents and bogus allotments, had been pending since 2006.
NAB Chairman Lt. Gen. (Retd) Nazir Ahmed Butt stated that the victims were looted through illegal means. He urged citizens to invest only in government-approved housing schemes to avoid falling prey to similar scams.
In the first phase of restitution, Rs 341 million was distributed to 476 affectees through pay orders and online transfers. Remarkably, each victim received 2.5 times their original investment.
In total, 2,200 affectees will benefit from the recovered assets, receiving a combined sum of Rs 1.209 billion. NAB has also begun the verification process for new claimants, ensuring that no eligible victim is left out.
The bureau achieved this milestone after a 20-year struggle, identifying and recovering the hidden assets of the culprits involved in the Old housing fraud case. NAB emphasized its commitment to transparency and accountability throughout the process.
Chairman Butt announced appreciation shields and Umrah packages for the NAB officials who played key roles in resolving the case. Their dedication and meticulous efforts were instrumental in securing justice for thousands of victims.
Officials noted that the resolution of this Old housing fraud case demonstrates NAB’s capability in handling complex, long-standing corruption issues. The bureau reaffirmed its mission to protect public funds and ensure that victims receive their rightful dues.
This historic recovery highlights the importance of vigilance and the need for citizens to verify housing investments through official channels. NAB’s efforts not only restored financial losses but also sent a strong message against fraudulent housing schemes.
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