NAB recovers Rs1.95b from illegal housing society.

Byline: NOKHAIZ SAHI

ISLAMABAD -- National Accountability Bureau (NAB) Rawalpindi has recovered Rs 1.95 billion from the management of a housing society in case of investigation against management of National House Buildings and Roads Development Corporation and others

The accused Mian Waseem alias Lucky Ali lured and induced the poor general public by massive advertisement in print, electronic and social media to invest in his illegal societies for the last so many years and defrauded them. So far totals claims received by NAB Rawalpindi is 9000.

During investigation, Waseem accepted the crime and submitted an application for plea bargain to Investigation Officer Seemab Qaiser for return of the total liability to NAB. The plea bargain application has been accepted by NAB to the tune of Rs1.95 billion.

Director General NAB Rawalpindi Irfan Naeem Mangi reiterated that NAB will continue to pursue the corrupt element and cleansing the society from the corrupt element. He said that NAB is making allout efforts to recover the looted money from the swindlers. However, this practice to invest in the unauthorized schemes in greed of more interest and returns on investments must be ended and discouraged.

He urged the people to invest only in the government approved banking system and investment companies.

On the other side, Chairman National Accountability Bureau chaired a meeting to...