Authorities have uncovered a large-scale fraud linked to a major housing scheme, raising serious concerns in Pakistan’s Real Estate sector. The case involves the Islamabad Cooperative Housing Society and thousands of allegedly illegal plot files.
Investigators say the fraud is one of the biggest in the country’s history. Officials report that around 36,000 plot files were issued without proper land availability. The society reportedly did not have enough land to support these allotments.
According to officials, the approved land plan allowed only about 6,000 valid files. However, nearly 42,000 files were reportedly issued over time. This created a major gap between land supply and allotments.
The large discrepancy has triggered a major investigation into the Real Estate operations of the society. Authorities believe that fake, duplicate, and excessive files were sold to collect billions of rupees from the public.
Sources from the National Accountability Bureau Rawalpindi and Islamabad confirmed that investigations are ongoing. They said many records related to payments and allotments are missing or incomplete.
Officials added that thousands of citizens may have been affected. Many people reportedly purchased plot files for land that either did not exist or lacked legal approval. This has raised serious questions about transparency in Real Estate dealings.
So far, financial irregularities of more than Rs. 16 billion have been identified. Investigators believe the total amount could increase as more documents are reviewed.
Authorities have arrested seven individuals linked to the case. The accused include former office bearers of the society and representatives of a land dealing company.
Those arrested include former Secretary General Mehdi Khan Shakir, former Treasurer Malik Muhammad Nawaz, and former Executive Member Muhammad Arshad. Four others connected to a land company have also been taken into custody.
An accountability court in Islamabad has granted a seven-day physical remand for further investigation. NAB officials are now working to recover documents and trace financial transactions.
Officials say the investigation may expand further. More arrests are expected as authorities examine additional links within the Real Estate network involved in the case.
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The case has highlighted growing concerns about fraud and weak regulation in Pakistan’s housing and Real Estate sector. Authorities say strict action will continue to protect public investment.
