LAHORE: The National Accountability Bureau (NAB) claimed on Wednesday to have arrested Qaiser Amin Butt, a director of the Paragon City (Pvt) Limited, from interior Sindh on corruption charges.

It is said to be a significant development in the bureau’s probe in the role of Khwaja brothers – Saad Rafique and Salman Rafique – as “beneficial owners” of the Paragon Housing Society. However, the Khwaja brothers deny that they are beneficial owners.

A NAB team is shifting him to Lahore.

According to NAB, suspect Qaiser Amin Butt in connivance with Nadeem Zia and others launched an illegal housing scheme -- Paragon City (Pvt) Ltd -- in 2005 on the basis of forged and fabricated documents along with alleged approvals from the TMA, Aziz Bhatti Town. In 2013, all TMA-approved housing schemes were transferred to the Lahore Development Authority (LDA). However, the Paragon record was intentionally not shifted to the LDA by the suspects.

“Paragon housing scheme has not yet approved by the LDA. Thus, Qaiser Amin Butt being the beneficial owner is running this scheme unlawfully,” it said.

Mr Butt is also accused of assisting and abetting Nadeem Zia and others in commission of offences of cheating public at large and misappropriation of funds collected from the general public at large.

“In addition to this, subsequent diversion of funds was made for setting up new business concerns for their personal gains. Butt and other suspects issued allotment letters of commercial and residential plots to the general public on the basis of the land which is not owned by the Paragon Housing Society,” it said, adding the funds collected from the general public were converted for the personal use of the suspects instead of timely development and possession of plots to the allottees.

Nadeem Zia is absconding.

Qaisar Amin Butt will be produced before an accountability court to get his physical remand upon his shifting here.

Published in Dawn, November 15th, 2018