NAB holds open court session, orders inquiry into fraudulent schemes

LAHORE: The National Accountability Bureau (NAB) Lahore held its monthly open court session where hundreds of victims of financial fraud in investment schemes and the housing sector presented their complaints before Director General NAB Lahore Muhammad Ahtram Dar.

The victims included those affected by Ponzi schemes such as the Sarmaya Dari Company, Unique Solar Scandal and For U Real Traders Scandal, along with those affected by housing sector scams including Al-Rehman Garden Phase-7, Omega Housing Project, New Lahore City, and Grand Avenue Housing Society Scandal.

Taking immediate action on complaints regarding the Unique Solar Scandal, the DG NAB ordered an inquiry against the accused persons. He highlighted that the perpetrators had systematically run a social media campaign to bag investments from general public, warning citizens to remain vigilant against such fraudulent schemes in the future.

Addressing the victims of Sarmayadari Company Scandal, the DG NAB informed them that NAB Lahore has, so far, received claims from 284 victims amounting to Rs480 million. He assured that NAB Lahore would soon transition the case from Complaint Verification (CV) to the inquiry stage, enabling large-scale legal action against the perpetrators.

Regarding the For U Real Traders Scandal, the DG NAB stated that, following the receipt of claims from victims in Punjab, the NAB Lahore had increased the number of investigators. A dedicated team will also be dispatched to Karachi to gather claims from victims based there.

In the Omega Housing Scandal, the DG took strict notice of delays in refunding matter and directed the retrieval of complete data of all affected individuals from the society administration. He further ordered strict enforcement of the six-month refund policy and instructed that all victims be kept informed about case progress through relevant WhatsApp groups.

Addressing the victims during the open court, the DG reiterated NAB’s commitment to serving the public, emphasizing that NAB is the people’s institution and is making every effort to meet public expectations. He reaffirmed that the Chairman NAB has issued clear directives for immediate and decisive action against fraud cases, and measures are actively being implemented to achieve this goal.

Victims participating in the open court highlighted the evolving tactics of fraudsters, who continue to collect investments under new names while promising high returns. They pointed out that these scams are often promoted through organized digital fraud campaigns on social media. Many attendees urged the NAB to launch public awareness campaigns on social media to counter such deceptive practices.

The affectees also acknowledged NAB as the only institution actively recovering funds from fraudsters but urged that NAB should also address smaller-scale fraud cases.

Copyright Business Recorder, 2025