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NAB distributes Rs. 265.496 Million to affectees of Syed Sibt ul Hassan Gillani

Lahore: National Accountability Bureau Punjab Distributed Rs. 265.496 Million to affectees of Syed Sibt ul Hassan Gillani (Double Shah Scam) and Mujahid Aziz Butt Case. Director General NAB Punjab, Mr. Khurshid Anwar Bhinder, distributed cheques to affectees in a ceremony held at NAB Punjab. Double Shah Scam has been the biggest scam of the history in which thousand of people were looted by the culprits. Today cheques of Rs. 260 million were distributed to 300 affectless of Sibt ul Hassan Gillani @ 30% of their claimed amount. These affectees had already been paid @ 20% of their claimed amount. It is worth mentioning that Syed Sibt ul Hassan Gillani has been convicted by the Accountability court and sentenced for 14 year R.I. with fine of Rs. 5.43 billion and confiscation of all properties. This amount is being recovered from the accused person for distribution among the affectees. A special claim verification cell is working to speed up recovery and disbursement of payments to affectees of Double Shah Scam.
In another case, an amount of Rs. 5.496 million was handed over the affectees of Mujahid Aziz butt and others case. An ACR No. 55/2007 against Mujahid Aziz Butt, Kunwar Mujeeb Ahmad and Shehzad Rafique butt, Directors of M/s Hydro Petroleum (Pvt) Ltd was filed by NAB in the Accountability Court No. II, Lahore on the allegations that they in connivance with each other lured the members of public at large and induced to invest with them with the promise of exorbitant profit i.e. 20% per annum. The accused persons collected an amount of Rs. 10.992 million from the public and misappropriated the same. Accountability Court No. II, Lahore convicted all the accused persons. Mujahid Aziz Butt and Kunwar Mujeeb Ahmed were convicted 14 year R.I. each with a fine of Rs. 54,47,500/-. Shehzad Rafiq Butt was convicted 05 years R.I. with a fine of Rs. 1,00,000/-. All the accused persons challenged the judgment and filed an appeal in Lahore High Court, Lahore. Mujahid Aziz Butt and Kunwar Mujeeb Ahmed voluntarily agreed to pay their whole liability of Rs. 55,47,500/- in lump sum through plea bargain which was accepted by the DG NAB Punjab and approved by Accountability Court No. II. Toda an amount of Rs. 54,96,000/- has been distributed to 5 affectees @ 50% of their claimed amount. Kunwar Mujeeb Ahmed has applied for plea bargain which is being considered according to the law.

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