NAB Distributes Cheques Worth Rs 600 Million Among Arian City Victims

ISLAMABAD, (UrduPoint / Pakistan Point News - 4th Dec, 2023) National Accountability Bureau (NAB), Deputy Chairman, Sohail Nasir Monday handed over cheques worth Rs 600 million to 450 affectees of Arain City scandal.

Commencing with the recovered sum obtained through a plea bargain with the management of Arain City, Fateh Jang, Rawalpindi, the funds were distributed among the victims in a simple ceremony held at NAB, Rawalpindi.

This returned amount, a product of meticulous scrutiny, is being distributed among the victims.

Addressing the cheque distribution ceremony here, the deputy chairman stressed the importance of ensuring social justice and self-accountability in resolving the issues faced by the society.

NAB is actively conducting an awareness campaign through the media to educate the public about precautionary measures before investing in a housing society.

It was emphasized that people should invest only in societies that are legal and registered.

He committed to returning every penny to the victims of fraudulent housing societies, seeking the public's support in honoring this commitment.

This aligns with the bureau's responsibility to protect the rights of investors and others.

He urged individuals to carefully assess the legality of a society before investing in it.

Additionally, he recommended consulting the relevant regulator to verify the authenticity of any housing society before making an investment.

“We must prioritize respecting the rights of others and honoring our commitments," he added.

He highlighted the presence of mafias in the housing sector, advising people not to purchase files without verifying their legality and authenticity.

He commended the Arian City investigative team led by Ms Beenish Javed for successfully recovering Rs 600 million from the owners of Arian City, and rejecting incentives.

He acknowledged the challenging working conditions of NAB officers and, as a gesture of appreciation, presented a shield to Beenish Javed.

Director General NAB, Rawalpindi, Mirza Irfan Baig, stated that the bureau had recovered more than Rs 600 billion from fraudulent societies to date.

He mentioned that NAB had successfully recovered and returned money to 50,000 individual victims of fraud.

The recovery ratio for NAB stands at an impressive 61 percent.

Ongoing investigations are in progress for a fraud exceeding 8 billion. NAB has received 77,000 complaints, leading to 556 being converted into investigations.

A total of 821 individuals, accused of fraud, have been arrested by NAB.

He mentioned that international organizations had recognized the services provided by NAB.

The bureau has assisted the government in removing Pakistan from the grey list of FATF.

He emphasized the importance of personal accountability in maintaining discipline within society.

He commended the NAB staff for their significant contribution to the recovery of embezzled funds. The bureau consistently returns the recovered amounts to the affected individuals after reclaiming them from wrongdoers.

He emphasized that returning embezzled funds to the victims was both a religious and legal obligation of the bureau.

NAB is obligated to provide assistance to the affected individuals.

The bureau initiated investigations into the Arain City fraud on June 04, 2021, and received more than 446 claims for fund restitution.

The eradication of corruption is a societal responsibility and cannot be solely entrusted to institutions. The repercussions of corruption have a multiplying effect on society.

The Arain City Administration launched a housing society in Fateh Jang two decade ago without obtaining the necessary NOC and collected a significant sum of money from the public.

However, it failed to provide ownership of plot to any of the buyers.