RDA scam suspects in the NAB crosshairs
The National Accountability Bureau (NAB) has summoned two retired officials in connection with the Rawalpindi Development Authority (RDA) financial scandal.
The summons were issued for Thursday (today) following their nomination as suspects by the RDA administration.
The accused include former Director Asif Mehmood Janjua and retired Assistant Director Khawaja Arshad Javed. According to the NAB notice, both individuals are required to explain why they issued instructions to the bank regarding the issuance of Certificates of Deposit (CDRs), despite allegedly lacking the authority to do so.
The bureau has asked them to provide a detailed explanation for their actions, submit complete records related to the CDRs, and furnish the names and details of all recipients. The notice further warned that failure to appear or comply would result in legal action in accordance with the law.
This development marks a significant step in NAB's investigation into alleged financial irregularities within the RDA.
More details emerge of scam
Investigations have revealed that large sums of money were transferred to various companies, vendors, and individuals through Call Deposit Receipts (CDRs).
These transactions were traced with the help of bank records and a report compiled by RDA's probe committee, which has now been provided to the investigative authorities.
The companies and vendors involved in these transactions include MS Addad (Rs393.17million), Car Specialist Network (Rs11 million), Pothohar Associates (Rs74.26 million), SNK & Company (Rs324.46 million), Silver Stone (Rs339.4 million), and Smart Cubed (Rs309.77 million).
RDA's investigation is currently comparing these transactions with records from the relevant banks.
Meanwhile, a probe committee formed by RDA's Director-General Kanza Murtaza under Director State Management Nasir Shehzad Gondal has issued a report.
The committee noted significant negligence and carelessness in RDA's Finance Department and found that the bank involved failed to verify the transactions with authorities before processing them.
The committee concluded that the preparation of CDRs was an overstep of authority and illegal. As a result, the committee has recommended that the case be forwarded to the ACE and other relevant agencies to recover RDA funds and further investigate the irregularities.
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The National Accountability Bureau (NAB) has summoned two retired officials in connection with the Rawalpindi Development Authority (RDA) financial scandal. The summons were issued for Thursday (today) following their nomination as suspects by the RDA administration. The accused include former Director Asif Mehmood Janjua and retired Assistant Director Khawaja Arshad Javed. According to the NAB notice, both individuals are required to explain why they issued instructions to the bank regarding the issuance of Certificates of Deposit (CDRs), despite allegedly lacking the authority to do so. The bureau has asked them to provide a detailed explanation for their actions, submit complete records related to the CDRs, and furnish the names and details of all recipients. The notice further warned that failure to appear or comply would result in legal action in accordance with the law. This development marks a significant step in NAB's investigation into alleged financial irregularities within the RDA. More details emerge of scam Investigations have revealed that large sums of money were transferred to various companies, vendors, and individuals through Call Deposit Receipts (CDRs). These transactions were traced with the help of bank records and a report compiled by RDA's probe committee, which has now been provided to the investigative authorities. The companies and vendors involved in these transactions include MS Addad (Rs393.17million), Car Specialist Network (Rs11 million), Pothohar Associates (Rs74.26 million), SNK & Company (Rs324.46 million), Silver Stone (Rs339.4 million), and Smart Cubed (Rs309.77 million). RDA's investigation is currently comparing these transactions with records from the relevant banks. Meanwhile, a probe committee formed by RDA's Director-General Kanza Murtaza under Director State Management Nasir Shehzad Gondal has issued a report. The committee noted significant negligence and carelessness in RDA's Finance Department and found that the bank involved failed to verify the transactions with authorities before processing them. The committee concluded that the preparation of CDRs was an overstep of authority and illegal. As a result, the committee has recommended that the case be forwarded to the ACE and other relevant agencies to recover RDA funds and further investigate the irregularities.
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