LAHORE: An accountability court on Thursday approved a plea bargain of Rs637 million between the National Accountability Bureau (NAB) and accused Yasir Hayat Tarar in a cooperative housing scheme fraud case.

Tarar was owner of M/s Asian Developers to the extent of 80 per cent shares at the time when the fraud was committed.

The accused is the brother of the incumbent Senior Member Board of Revenue (SMBR) Babar Hayat Tarar.

The accused confessed to the crime and agreed to return the money looted from the public at large. The accused agreed to pay the money in three instalments of equal amount while a land worth Rs322m had been handed over to the affectees of the scam as a first instalment.

The NAB alleged that the accused through his front men and benamidars entered into an agreement with the administration of Professional Cooperative Housing Society as land provider and developer.

The selection of M/s Asian Developer was non-transparent and illegal as accused Tarar was the friend of Muhammad Asghar, former general secretary of the said society.

Accused Yasir Tarar through his front men illegally received advance payments from this contract as not a single penny had been utilised by him from his own pocket for the purchase of land rather used the advance payments received from the society for the purchase of land for the society.

All the land was purchased by the accused and others by using the money of the affectees/members deposited by them with the society.

The major transactions in the account of the firm were in cash. The accused along with others legally received money from the society.

Published in Dawn, February 4th, 2022