LAHORE: The National Accountability Bureau (NAB), Lahore, has entered into a plea bargain worth Rs2.25bn in a case related to the Grand Avenue Housing Society.
According to the NAB, an accountability court has given a go-ahead to the bureau to enter the PB with the housing society in question.
“A Regional Board Meeting (RBM) after taking into consideration the facts and circumstances of the case had given approval to the PB application forwarded by accused Riaz Ahmed Chohan and others amounting to Rs2.25bn in which not less than 2,150 affected people of the housing scandal will benefit as per law,” a spokesperson for NAB Lahore said in a statement here on Friday.
Accordingly, he said the regional bureau had surrendered the following properties as surety against PB amount. A vesta cash and carry, Ferozpur Road, 52 kanal land situated at Mouza Shahzada, Model Town, Tower D, 68 apartments, DHA Phase-VIII and Tower C, three apartments, DHA Phase-VIII.
“In consistence to that, the accused has submitted an amount of Rs750 million as down payment in favor of NAB,” he said.
The spokesperson said the regional chapter initiated inquiry proceeds against the Grand Avenue Housing Society administration last year after receiving numerous complaints of cheating the general public. He said the inquiry was subsequently upgraded into investigation level during September 2020. Between a short span of 15 months, NAB Lahore investigation team had concluded the said matter in which 2,150 affectees would be financially benefited, he added.
He said the regional bureau of Lahore had recovered more than Rs75bn so far from the corrupt elements and the same had been either submitted to the national kitty or reimbursed among the affectees in accordance with the NAB chairman’s public-friendly vision.
Published in Dawn, May 8th, 2021