
NAB Initiates Rs1.172b Recovery In Housing Society Scandal
Abdullah Hussain (@Abdulla99267510) Published January 15, 2025 | 04:51 PM

NAB’s actions Provided relief to thousands of victims: DG NAB Lahore
LAHORE: (UrduPoint/UrduPoint / Pakistan Point News-Jan 15th, 2025) J National Accountability Bureau (NAB) Lahore, has successfully enabled the recovery and disbursement of Rs510.12 million from illegal private housing society, La Villa De Paris. The amount is distributed among 887 victims holding 3869 claims.
At the occasion, Director General (DG) NAB Lahore, Mr. Amjad Majeed Aulakh maintained that by adopting a pragmatic strategy of mutual settlement, NAB Lahore has effectively initiated the process of returning Rs1.172 billion to the victims of well-known housing scandal, La Villa De Paris, Private Limited.
While shedding light to the case details, DG NAB said that on June 14, 2023, the Bureau launched investigations into the said housing scandal in pursuit of cheating and defrauding. Further revelations marked that the hard-earned money of 1346 victims was pilfered by said society administration, however, a total of 8790 claims were submitted with NAB, on which, the society administration was induced to return the looted money to the victims without causing delay.
Although, a significant amount has been returned to the victims, with assurances of full compensation to all by February 2025.
In the first phase, 887 victims bearing 3869 claims have been returned Rs510.12 million (in the shape of cash or plots), which is 66% of the total victims. However, the society administration has assured that the remaining 34% of the victims will be compensated by February 15, 2025.
Chairman NAB, Lt. Gen. (R) Nazir Ahmed, has issued clear instructions that all possible steps be taken to prioritize the compensation of losses occurred to common citizens. The case reinforces NAB’s commitment to combating fraud and corruption, especially in the real estate sector.
Related Topics
Recent Stories

Hazza bin Zayed reviews Ramadan event programme in Al Ain Region

UAE’s medal tally rises to 18 at Fazza Para Athletics GP 2025

EAD issues regulations on administrative penalties to enhance proactive environm ..

Dominica draws inspiration from UAE's digital transformation: Prime Minister

Abdullah bin Zayed, Moldovan FM discuss bilateral relations

Sharjah Ruler issues law on natural resources companies’ tax

Dubai Chambers: UAE achieved remarkable growth in AI adoption within companies

Abdullah bin Zayed, UNESCO Director-General discuss bilateral cooperation

ADNOC Drilling reports record net profit of AED4.77 billion in 2024

WGS: UNESCO showcases power of multilateralism in restoring cultural heritage

WGS: Ray Dalio calls for immediate action to tackle debt to avoid destabilising ..

Sindh govt bans unregistered vehicles from roads in Karachi, other cities
More Stories From Pakistan
-
Sindh govt bans unregistered vehicles from roads in Karachi, other cities
2 hours ago -
Commissioner Sargodha Division Jahanzeb Awan visits Thalassemia & Hemophilia Centre
3 hours ago -
9 dead, 1,561 injured in Punjab Road accidents
3 hours ago -
Sindh Governor Kamran Khan Tessori urges Japanese investment, discusses trade expansion
3 hours ago -
NEPRA delegation visits FESCO Headquarters
3 hours ago -
1st convocation of Cholistan University of Veterinary Animal Sciences held
3 hours ago
-
Law Ministry notifies appointments of acting chief justices of four high courts
3 hours ago -
DC reviews physical test for Enforcement & Investigation Officers' recruitment:
3 hours ago -
Haveli of Maharaja Ranjit Singh being conserved by WCLA
3 hours ago -
Provincial Alliance for Sustainable Tobacco Control KP Condemns Vape Expo
3 hours ago -
Mushaal Mullick calls for intellectual & political efforts for Kashmir resolution
3 hours ago -
Commissioner Hazara orders open court to address public grievances
3 hours ago