Daily Times

Deputy Chairman of the National Accountability Bureau (NAB), Sohail Nasir, distributed the first installment of cheques totaling Rs 97 million to 132 victims of Jeddah Town during a modest ceremony at NAB headquarters. on Wednesday.

Speaking at the event, the deputy chairman emphasized that NAB is committed to recovering the stolen funds of scandal victims. NAB serves as the custodian of people’s investments and also acknowledged the challenges involved in recovering looted funds.

The recovery of Jeddah Town investments was a remarkable achievement, considering that the culprits had already served their sentences and some had passed away.

He praised the policies of the current NAB chairman, noting that recoveries have accelerated since he took office. He emphasized that the true success of NAB lies not in securing convictions, but in returning the looted funds to the victims.

He stressed the importance of investing only in legal, registered societies and promised to return every penny to victims of fraudulent housing societies, urging the public’s support in fulfilling this commitment.

Mirza Irfan Baig, Director General of NAB Rawalpindi, stated that NAB is dedicated to eliminating corruption from the country to ensure a comfortable future for the next generation.

NAB Rawalpindi is prioritizing the resolution of corruption cases mostly involving fake housing societies. Over the past year and a half, it has recovered Rs 38 billion, including looted money from old cases like Araiyan City, Jeddah Town, and others.

NAB has also resolved fraud cases worth Rs 100 billion, provided billions of rupees in relief to victims of Ghouri Town. Additionally, 100 Kanal of land was recovered from Ghouri Town’s management, with more cases nearing resolution.

He commended NAB officers and officials for resolving the long-standing Jeddah Town scam.

He urged people to thoroughly check the legality of a society before investing and recommended consulting the relevant regulator to verify the authenticity of any housing society. “We must prioritize respecting others’ rights and honoring our commitments,” he emphasized.

NAB is conducting a media awareness campaign to educate the public on precautionary measures before investing in housing societies.

This initiative aims to prevent financial losses by informing citizens about the legality of various housing schemes and encouraging them to verify approvals before making investments.