Paragon Housing: Housing scheme official remanded

LAHORE: An accountability court on Monday granted 15-day physical remand of Director Paragon City Qaiser Amin Butt accused of illegally launching a housing society and cheating the public at large. The NAB officials produced him before the court and sought physical remand to carry out investigations. The court accepted NAB’s plea and granted 15-day physical custody of the accused to the bureau.

Accused Qaiser Amin Butt in connivance with Nadeem Zia and others launched an illegal housing scheme known as “Paragon City (Pvt) Ltd” in 2005 on the basis of forged and fabricated documents along with alleged approvals from TMA Aziz Bhatti Town, Lahore.

Moreover, during year 2013, all TMA approved housing schemes were transferred to Lahore Development Authority (LDA), however, record of Paragon Housing Scheme was intentionally not shifted to LDA by the accused persons. Paragon City Housing Society has, so far, no approval from LDA. Thus, Director Qaiser Amin Butt being the beneficial owner is running the housing scheme, unlawfully.

Accused Qaiser Amin Butt being the Director M/s Paragon City aided, connived, assisted and abetted accused Nadeem Zia and others in commission of offences of cheating public at large and misappropriation of funds collected from the general public at large in addition to that subsequent diversion of funds for setting up new business concerns for their personal gains.

Moreover, in addition to above, accused Qaiser Amin Butt accompanied by others issued allotment letters of commercial and residential plots to the general public on the basis of land which is not owned by the Paragon Housing Scheme. The funds collected from the general public were converted for the personal use of the accused persons instead of providing timely development and possession of plots to the allottees.