ISLAMABAD: The National Accountability Bureau (NAB) Islamabad/Rawalpindi on Tuesday handed over recovered assets worth more than Rs4.1 billion to the Rawalpindi Development Authority (RDA) in a major embezzlement case involving the authority’s departmental funds.

According to NAB, a formal handing-over ceremony was held at NAB Islamabad/Rawalpindi, during which Director General NAB Islamabad/Rawalpindi Waqar Ahmad Chauhan formally handed over the recovered assets, comprising Call Deposit Receipts (CDRs) and immovable properties, to representatives of the RDA.

The case pertains to the embezzlement of the RDA’s departmental funds through the issuance of 321 Call Deposit Receipts (CDRs). Following an investigation by NAB Islamabad/Rawalpindi, Rs1.75bn was recovered through plea bargains, settlements and recoveries, while 31 immovable properties, valued at approximately Rs2.3bn, were frozen and a receiver was appointed for them.

The recovery was made possible under the close supervision of Director General NAB Islamabad/Rawalpindi Waqar Ahmad Chauhan.

The investigation team, led by Director Ilyas Qamar and comprising Deputy Director Shahid Hussain and Assistant Director Hamza Iqbal, conducted the inquiry, ensuring the successful recovery of the embezzled assets.

The director general appreciated the team’s outstanding performance and reiterated that the recovery and restitution of public assets remained among NAB’s foremost priorities.

During the ceremony, the assets were formally handed over to the RDA to facilitate the restoration of the embezzled public funds and assets to the rightful institution.

A reference against the accused will shortly be filed before the Accountability Court, Rawalpindi, while efforts to recover the remaining amount are continuing.

Published in Dawn, July 2nd, 2026