Two remanded in Rs13bn Fazaia housing project scam.

KARACHI -- An accountability court on Saturday remanded two suspects National Accountability Bureau's custody in connection with a probe into reports of fraud in the Fazaia Housing Society.

The NAB had on Friday arrested Tanveer Ahmed and Bilal Tanveer, said to be partners in the housing project, for allegedly depriving the public of Rs13 billion through investments in the project.

On Saturday, the investigating officer produced both the suspects before the administrative judge of the accountability courts, Judge Farid Anwar Qazi, and sought their remand for interrogation and investigation.

Allowing the request, the judge remanded them in NAB custody till Jan 6 with direction to produce them on the next date. The IO was also told to submit a progress report on the next date.

In November, the bureau had launched a 'fresh' inquiry against the Fazaia Housing Scheme regarding 'allegation of cheating over 6,000' people. It said that the inquiry was initiated on a number of complaints received from different individuals, who claimed to have collectively invested around Rs13bn.

NAB alleged that the suspects in...