NAB Recovers Billions After Exposing Major Bankers’ City Housing Fraud, marking a major milestone in investor protection in Pakistan. The National Accountability Bureau (NAB) has successfully recovered Rs. 1.209 billion from the fraudulent Bankers City Housing Scheme, ensuring affected investors begin receiving compensation. This recovery highlights NAB’s long-term accountability measures and commitment to combating housing scams in Pakistan.
The Bankers City Housing Scheme, registered with the Securities and Exchange Commission of Pakistan (SECP) in 2003, had promised investors land across Islamabad, Rawalpindi, and Haripur. However, widespread fraud and mismanagement led to hundreds of complaints and a formal investigation starting in 2007. After nearly two decades, NAB’s meticulous court proceedings and fund recovery efforts have resulted in reimbursements to verified claimants.
In the first phase, Rs. 341 million was distributed among 476 investors, while Rs. 120 million in payment orders were issued to 316 claimants. Additionally, Rs. 221 million was transferred electronically to 160 other victims. NAB will release the remaining funds to approximately 2,200 verified victims in the next phases, following a phased reimbursement approach.
The successful recovery not only ensures investor compensation but also reinforces trust in Pakistan’s regulatory and judicial system. NAB’s actions serve as a warning against future real estate fraud and demonstrate the bureau’s effectiveness in handling long-term investigations. By combining legal accountability with structured restitution, the National Accountability Bureau is setting a benchmark in protecting investors from housing scams.
Investors and stakeholders now see a clear path to restitution, highlighting the importance of vigilance, reporting, and NAB’s dedicated role in exposing and resolving fraudulent housing projects across the country.
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NAB recovers Rs. 1.209 billion after exposing Bankers City Housing fraud, ensuring investor compensation and long-term accountability in Pakistan.
