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Business

Persons involved in Cooperative Housing Society's corruption arrested

ISLAMABAD: National Accountability Bureau (NAB) Rawalpindi Thursday arrested President Ministry of Commerce Employees Co

02 Aug, 2018

ISLAMABAD: National Accountability Bureau (NAB) Rawalpindi Thursday arrested President Ministry of Commerce Employees Cooperative Housing Society (MOCECHS) Rana Ghulam Farid and others for their alleged involvement in corruption and corrupt practices in allotment of plots.

The other arrested accused persons are Syed Amir Hussain Shah, Ex-Vice President/ General Secretary MOCECHS, Mazhar Hussain, General Secretary, MOCECHS, Muhammad Akram Awan, Ex- Executive Member/Member Development Committee MOCECHS, Muhammad Arshad, CEO M/s Sun Shine Real Estate Marketing (Pvt) Limited and Khushnawaz Property Dealer.

The accused persons in connivance with each other have been allegedly involved in corruption and corrupt practices in allotment of plots, embezzlement of society funds and illegal award of contracts for development works, thus causing loss of billions of rupees to members/public at large.

As per details, multiple complaints have been received in NAB regarding allegations of misuse of authority in award of development contracts, allotment of plots and embezzlement of society funds against management of the society.

During the investigation, it was revealed that accused Rana Ghulam Fareed, the then President MOCECHS in connivance and collaboration with others illegally accommodated and awarded contract of consultancy services to M/s Naveed Aslam & Associates without competitive bidding in gross violation of by-laws of Ministry of Commerce Employees Cooperative Housing Society (MOCECHS).

The society has received millions of rupees from members whereas the same has been embezzled by accused persons instead of spending on purchase of land and development works of society.

Moreover, the accused persons also illegally allotted plots without balloting.

The investigation also revealed that Rana Ghulam Fareed in connivance with other accused persons transferred dozens of files amounting millions of rupees on bogus cheques as well as made double allotments.

Furthermore, Rana Ghulam Fareed in connivance and collaboration with other accused persons allegedly involved in transfer of 94 memberships on basis of fake and bogus documents and without knowledge of owners.

It was also established from available evidence that the accused persons in connivance with each other have committed an offense of cheating public at large and criminal breach of trust under provision of NAO, 1999.

On Thursday the accused were produced before Accountability Court, Rawalpindi and seven days remand was granted by Accountability Court, Rawalpindi into NAB custody.

Director General NAB Rawalpindi has said in light of directions of Chairman, Justice (Retd) Javed Iqbal all out efforts were being made to arrest the corrupt and recover looted money as per law.

Copyright APP (Associated Press of Pakistan), 2018