Authorities in Pakistan have exposed a large-scale Real Estate Scam linked to the Islamabad Cooperative Housing Society. The case involves massive irregularities in plot allotments. Investigators say thousands of files were issued without legal land backing.
According to officials, around 36,000 plot files were issued illegally. This happened despite limited land availability. The approved layout plan only allowed nearly 6,000 valid files. The rest are now under serious investigation.
Sources linked to the National Accountability Bureau (NAB) in Rawalpindi and Islamabad shared key details with local media. They said former office bearers and facilitators played a role in expanding the file system. Nearly 42,000 total files were issued over time.
This created a major gap between available land and sold plots. Officials say this situation reflects a growing Real Estate Scam involving fake, duplicate, and unsupported files. The scam reportedly continued over several years.
Investigators also found missing and incomplete records. Many buyers were allegedly sold plots that did not exist. Some plots had no legal approval or proper documentation. This raised serious concerns about fraud and mismanagement.
Officials estimate that financial irregularities have crossed Rs. 16 billion. However, the total loss may increase as the investigation continues. Authorities believe more hidden transactions will be uncovered.
The ongoing Real Estate Scam has led to major legal action. NAB has arrested seven suspects connected to the former management and a land dealing company. These include former officials and company representatives.
Those arrested include former Secretary General Mehdi Khan Shakir, former Treasurer Malik Muhammad Nawaz, and former Executive Member Muhammad Arshad. Four individuals linked to Land Stock Dealing Point Company were also detained.
An accountability court in Islamabad has granted NAB a seven-day physical remand of the accused. The purpose is to collect evidence and trace financial transactions. Investigators are also identifying additional facilitators.
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Officials say the case may expand further. More arrests are expected as the inquiry continues. Authorities are still reviewing land records and financial documents linked to the society.
