LAHORE: The National Accountability Bureau (NAB) on Wednesday compensated over 1,700 victims of the Double Shah scam with Rs193 million.
NAB Lahore Director General Shahzad Saleem distributed cheques amounting to Rs193.59m among 1,763 affectees in a ceremony at its provincial headquarters Thokar Niaz Beg.
According to NAB, some 14,500 affectees filed their claims with it for recovery of their looted money on the pretext of providing them handsome profit on their investment by suspect Sibtul Hassan Gillani alias ‘Double Shah’.
The suspect in connivance with his accomplices managed to accumulate massive investments from general public by offering them lucrative financial incentives over cash investments.
During the course of investigation, NAB Lahore confiscated properties of the accused persons as an indirect recovery. It also got attached 32 residential and commercial properties found in the name of accused persons.
“NAB has returned full amounts to 6,000 affectees, another 6,000 received half of their principal investment while the rest of the affecttees are being compensated,” it said.
It would distribute another sum of Rs360m among the affectees of ‘Double Shah Scam’ in near future, it said.
Published in Dawn, November 14th, 2019