NAB LHR Distributes Rs237.75 M among Housing and Cheating Public at Large Scams affectees


National Accountability Bureau (NAB), Lahore organizes a Cheque Distribution Ceremony to hand over cheques worth Rs237.75 Million among 1548 affectees of Grand Avenue Housing Society Scandal, ZI Business Group and Private Bank’s loan defaulters. The Ceremony was graced as Chief Guest by Director Investigation of NAB Lahore. While addressing the participants of the Ceremony, the chief guest mentioned that NAB has massively been receiving complaints of alleged involvement of Property Dealers along with Housing Society owners in the practices of cheating and looting general public at large. Whereas, NAB intends to spread a clear message through utilizing media forums that all elements involved in cheating and defrauding general public would be dealt with iron hands. Talking about Grand Avenue Housing Society Scandal, he stated that NAB Lahore initiated the Inquiry proceedings against administration of said Society in 2020 which was, subsequently, upgraded into Investigation level during the same year on receipt of claims at massive level. He further stated that in line with the directions of NAB’s leadership, the Officers and the staff of the Regional Bureau managed to materialize the Plea Bargain (PB) during last year to the tune of Rs2.27 Billion from which NAB-L has distributed 28% of the total PB amount among the affectees, till now. While highlighting the role of Regulators in the Housing Sector affairs, he felt the need to further strengthen Regulator’s role as their alleged negligence and inefficiency caused hefty financial loss to innocent people. While giving piece of advice to general public, he said that the public should be more cautious when investing their hard earned money anywhere . Addressing the affectees, he further added that NAB’s leadership has issued clear instructions and also stressed for complete recovery of looted money from corrupt elements. NAB Lahore has recovered Rs30 billion from fraudulent elements since its inception in 1999, whereas, during the last four (4) years’ tenure of current leadership, NAB Lahore has made possible the recovery of Rs14 billion in corruption scams, he said. He termed NAB’s success as conditional with the recovery of every penny from corrupt elements and to bringing them towards their logical end. While concluding the Ceremony, the Chief Guest gave away cheques amounting to Rs237.75 Million among 1548 affectees of the Scams. Afterwards, the affectees appreciated the performance of NAB Lahore under the dynamic supervision of Director General, NAB Lahore.

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