DG NAB Lahore distributes money among affectees of Double Shah

Lahore : Director General National Accountability Bureau (NAB), Lahore Shahzad Saleem distributed Rs169.68 million among 1474 affectees of renowned Double Shah Scam.

According to the details, the recovered amount was distributed during a ceremony held at NAB Complex Thokar Niaz Beg, Lahore. This was third phase of the distribution of recovered money among affectees of said scam. NAB Lahore has distributed one billion and 200 million rupees among 6490 affectees, so far, in the scam.

Speaking on the occasion, DG NAB Shahzad Saleem said that Double Shah was notoriously known for looting money from general public with the promise of multiplying their principal amount. Public were be fooled by such people, invested their amount and regretted later, he added.

Talking about the frauds in Housing Sector, he said, according to the list provided before the Supreme Court of Pakistan, 70 % housing societies were found illegal.

He said that NAB started investigating the case in 2007 and approximately 6490 aggrieved persons registered their complains to NAB. NAB has returned 100% amount to 3249 victims, so far. He further said that NAB has returned 80% of total amount and added that NAB has although disbursed Rs1 billion and 200 million in double shah case which is 80 percent of the total amount.

He further stated that only NAB Lahore chapter has recovered more than four billion rupees in the ongoing year. He claimed that NAB reached a record plea-bargaining (PB) of 2 billion rupees in Ferozpur City scam.

He further said that NAB Lahore has confiscated property of over 2-3 billion rupees from accused Farhan Cheema related to Model Housing Enclave Scam.

Talking about Pak-Arab Housing Society scam, he said, within 6 months span the administration would bound to return Plots worth Rs 18 billion to the affectees. He further told that on the loss of mere 100 million rupees in Elite Town Scam the affectees were returned with Rs360 million by NAB Lahore.