The National Accountability Bureau (NAB) on Thursday arrested a property builder and his accomplice in Karachi who had allegedly usurped 124 acres of government land worth billions of rupees in connivance with the revenue officials concerned, the accountability watchdog said.

“NAB Karachi arrested one Javed Iqbal and his accomplice Waseem [who were] wanted in an inquiry against Rufi Builders and Developers,” a bureau spokesperson said.

Iqbal is facing charges of usurpation of 124 acres of land located in districts East and Malir where several illegal housing projects have been launched including “Fatima Golf Residency”.

According to the spokesperson, Iqbal is a builder working under the name of Ghani Builders and is allegedly involved in the embezzlement of 19 acres of precious state land situated in Malir's Deh Thoming, Scheme 33 area. This was done "by way of managing fictitious entries in the revenue records, in connivance with revenue officials", the official added.

“The two accused transferred the said land fraudulently to Rufi Builders who launched an illegal project named 'Rufi Pearl City' on it, thus cheating the public at large.”

The estimated value of the said land was Rs3 billion, the NAB spokesperson revealed.

The official said that the held builder was also involved in the alleged embezzlement of land provided to the University of Karachi.

He pointed out that around 30 years ago, the Sindh government had allotted the land to the varsity for residential purposes of graduate students but the accused builder in connivance with revenue officials also usurped the said land for a housing scheme, Al Raheem Villas.

Explaining the modus operandi of the suspect, the spokesperson said Iqbal maintained the properties using the titles of his company's employees and later disposed of the lands.

In 2015, after admitting to such offences, he had surrendered 73 acres of usurped land located in the city's Korangi district to the accountability bureau.