LAHORE: The principal accused, Muhammad Qasim Khan, wanted by the National Account-ability Bureau, Lahore, in the multi-billion-rupee scam of the Palm Vista Housing has been arrested in the United Arab Emirates (UAE) following an international manhunt coordinated through Interpol and Pakistani authorities.

According to an official communication issued by the National Central Bureau (NCB) of Interpol in Pakistan, Qasim Khan was apprehended in Abu Dhabi and produced before UAE authorities in the housing fraud case. The UAE has now formally sought extradition documents through diplomatic channels for his surrender to Pakistani authorities.

The confidential letter, marked “Most Immediate”, reveals that Interpol Abu Dhabi informed Pakistani authorities on May 20, 2026 that Mr Khan had been arrested in response to a red notice. The arrest marks a dramatic turn in the Palm Vista Housing scandal, a case that allegedly defrauded hundreds of citizens of over Rs1.4bn through fraudulent plots, false promises and illegal housing operations.

Some affectees, including Ishtiaq Ahmad, Hasan Waleed, and Malik Usman, told Dawn that Qasim Khan and his cronies defrauded the people by overselling plots against the housing society having 205 kanals to its name. They said the fraudsters had also launched a Ponzi scheme, offering profit to the people on their investment in the housing units.

At least 295 people were affected by the fraud scheme on Raiwind Road

“All the victims have been waiting for the return of their looted money for about two years and have requested NAB to take up this case seriously to compensate them,” they said.

NAB Lahore had earlier disclosed that at least 295 affectees were allegedly deprived of their life savings in the scam. Two directors of the housing scheme, Mahmoud Tariq and Amer Azeem, had already been arrested while Qasim Khan kept operating from abroad.

For months, Palm Vista Housing scam victims gathered outside NAB Lahore, pleading for justice and recovery of their investments.

A senior prosecutor at NAB Lahore said the evolving framework of mutual legal assistance and international policing cooperation was rapidly shrinking safe havens for economic offenders fleeing abroad. The officials claim that the Palm Vista case is part of a broader crackdown launched against fraudulent housing societies and investment scams across Punjab.

Published in Dawn, May 23rd, 2026