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ISLAMABAD: The National Accountability Bureau (NAB) has unearthed a scandal in the real estate business in Rawalpindi and Islamabad in which hundreds of people have invested.

According to the NAB Rawalpindi, an inquiry has been initiated against the management of National House Building and Road Development Corporation (NHBRDC) for allegedly cheating public at large on the pretext of providing plots in different housing schemes.

NAB received dozens of complaints from different cities including Gujranwala, Hyderabad, Dera Ghazi Khan, Lahore, Rahim Yar Khan, Peshawar, Faisalabad, and Azad Kashmir against the accused.

The complainants claimed that they had purchased plots in National Gardens, Defence Valley, National Town, Sir Syed Town, New Islamabad City, Defense Avenue on the basis of advertisments given by a famous TV artist.

However, despite the lapse of 24 years, they have not received the possession of plots.

When Dawn tried to get official version of the NHBRDC management on their telephone numbers mentioned on the website of the corporation they did not respond.

During complaint verification, it was revealed that the accused was cheating public at large through advertisement of several housing schemes.

As the schemes were advertised nationwide, it is believed that hundreds of people might have fallen prey to his ad campaign.

The accused received initial investment from complainants and later transfered plot to another scheme after every 7-10 years.

NAB Director General Rawalpindi Irfan Naeem Mangi said that NAB was making all out efforts to recover the looted money from the swindler.

However, the practice to invest in the unauthorised housing schemes in greed of more interest and returns on investments must end and discouraged.

He urged the people to invest through the government approved banking system and investment companies.

Published in Dawn, August 8th, 2018