Wednesday December 08, 2021

NAB takes notice of Rs80 bn scandal

February 18, 2021

ISLAMABAD: National Accountability Bureau Chairman Justice (R) Javed Iqbal has taken notice of looting of people by a chicken company and directed the DG NAB Lahore to take legal action against the looters of Rs 80 billion as per law.

A delegation of the affected people of the company met Javed Iqbal at the NAB Headquarters on Wednesday. The NAB chairman was informed by the affected people that company chief executive officer and others looted approximately Rs80 billion from 46,000 affected peole by promising inflated returns to their investments.

It was told that the money is not being returned to the affected people but the company management has vanished and their offices have been closed and telephone connections are severed.

“The culprits no matter how powerful and well-connected must not escape the law and should be brought to justice so that they should be punished as per law,” he said. The NAB chairman directed the DG NAB Lahore to establish a special cell in Lahore for probing the scandal.

Furthermore, he said the investors of a housing society in Karachi, have been returned Rs14 billion, which is a great success of the NAB Karachi. He said the accountability court Islamabad had imposed Rs9 billion fine in a Mudaraba scam. He said the NAB is making sincere efforts to eradicate corruption.

The NAB has recovered Rs487 billion directly and indirectly from corrupt elements during the tenure of the incumbent management and deposited the recovered amount in the national exchequer.