The National Accountability Bureau, Rawalpindi has recovered the looted money of Rs 120 million from the owners of Jeddah Town, a fake housing society at Hummak in Islamabad.
The main accused in this case Syed Makhdoom Gilani of M/S Gilani Housing Corporation International has confessed that he had collected over Rs 660 million from 4,752 citizens, said Brigadier Luqman Qazi, Director Investigation Wing, NAB here on Thursday.
In a press briefing at his office, Brigadier Qazi said the accused confessed that he had amassed almost Rs 660 million in the name of Jeddah Town without having any land. Approximately Rs 120 million have been recovered as plea-bargain from the two property agents, Sher Ali and Raja Fazal who were held previously.
He said that a partner in the case Sohail Shamshad was also apprehended while Makhdoom's wife Shaista and nephew Tariq fled to England with the hefty looted amount of Rs 250 million.
"Attempts have been made for issuance of red notices to arrest them through Interpol and recover the looted money. Another accused Ali Asghar had gone underground," he said. Brigadier Qazi said on the intervention of the NAB, the CDA had fined the housing society Rs 500,000 for not developing the land within prescribed time. But the offender did not bother to pay the penalty, he said. He said that the accused possessed only 730 kanal of land, but he distributed registration documents among 990 people.
The wrongdoer opened his branches at Saudi Arabia, Dubai and UK to plunder the money from overseas Pakistanis. Director NAB told journalists that investigations were underway and a reference had been sent to the Accountability Court against all the accused of the case.
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