ISLAMABAD: Chairman National Accountability (NAB) on Monday presented a cheque of Rs. 43 million to Managing Director (MD) Shaheen Foundation, Air Marshal (Retd) Muhammad Jamshaid Khan and amount will be returned to its affected persons.
The Bureau so far has returned Rs630 million to Shaheen Foundation recovered from present management of Al-Hamra (Pvt) Limited and Management of Eden Builders.
Chairman NAB, Qamar Zaman Chaudhry presented the cheque in a meeting with MD Shaheen Foundation here.
In a case of Al-Hamra (Pvt) Ltd and Management of Eden Builders, NAB Rawalpindi has successfully pursued management to realize recovery of Rs 1832.168 million along with profit of Rs 573.412 million from present management of Al-Hamra (Pvt) Ltd, Al Hamra Avenue Pvt Ltd through its Chief Executive & others.
In this case, previous management of the said companies deceived Shaheen Foundation and its 700 members by inducing them to book plots in their projects and received Rs 1258 million (approx).
The subject accused has failed to hand over the plots to Shaheen Foundation rather the land was sold to other parties and deprived the members of Shaheen Foundation from their hard earned money.
During inquiry proceeding, the present management of Al-Hamra (Pvt) Ltd, Al- Hamra Avenue Pvt Ltd shown willingness in writing to return Rs. 573 million as a profit in addition to principal amount of Rs. 1258.758 due to NAB efforts. NAB to date has returned Rs 630 million to Shaheen Foundation for payment to affectees of Shaheen Foundation.
The Managing Director has appreciated sincere efforts NAB and especially thanked Qamar Zaman Chaudhry for recovering looted money of affectees of Shaheen Foundation.