Latest news with #MuhammadAhtramDar
Business Recorder
4 days ago
- Business
- Business Recorder
DG NAB Lahore listens to public complaints
LAHORE: The Director General (DG) NAB Lahore, Muhammad Ahtram Dar, convened a monthly open hearing session in NAB Lahore which was participated by hundreds of victims affected by Ponzi (investment) schemes and illegal housing societies. The forum witnessed aggrieved complainants of Future Vision scam, Al-Rehman Garden Phase-4, Omega Housing Society, New Lahore City, Khayaban-e-Amin Housing Society, Formanities Housing Society, Elite Town Housing Society, and Grand Avenue Housing Society. DG NAB Lahore attentively listened to all public grievances and issued prompt directives for their resolution. Responding to the complainants of Future Vision scandal, DG NAB ordered an immediate direct inquiry and instructed the initiation of proceedings to place the prime accused on Exit Control List (ECL) along with publication of advertisements in national dailies. Regarding the complaints against Al-Rehman Garden (Phase-4) management, the DG NAB allotted one month deadline to investigation team for bringing conclusion of the case and to submit a comprehensive report. Copyright Business Recorder, 2025
Business Recorder
15-05-2025
- Business
- Business Recorder
Housing scam victims: NAB Lahore disburses Rs1.34bn
LAHORE: National Accountability Bureau (NAB) Lahore, in a significant development, has successfully recovered Rs1.34 billion in Formanities Housing Society scandal and promptly initiated commencement of the same among 1,446 victims of the said scam. Marking this milestone, Director General (DG) NAB Lahore, Muhammad Ahtram Dar told that, keeping in view the special directives of the Chairman NAB to ensure completion of cheque distribution before Eid-ul-Adha, the Lahore Bureau has been decided to remain operational over the weekends (Saturday and Sunday) to continue delivering services to the victims. The initiative is designed to maximize relief delivery within the shortest possible time. DG NAB also announced the withdrawal of the requirement to bring stamp papers for cheque collection, a move aimed at facilitating the process for the victims. He further emphasised that providing rapid and prioritised relief to the general public remains a core directive of the Chairman NAB. He also noted that NAB Lahore has previously succeeded in disbursing compensation to thousands of victims within a remarkably short period. Reaffirming the Bureau's commitment, he further stated that redressing the grievances of housing sector victims, remains their foremost priority. However, DG NAB Lahore also instructed all victims of the Formanities Housing Scam to ensure for bringing their original documentation for receiving cheques to facilitate a smooth and efficient process. Copyright Business Recorder, 2025
Business Recorder
04-05-2025
- Business
- Business Recorder
DG NAB tightens noose around illegal housing schemes
LAHORE: The National Accountability Bureau (NAB), Lahore, under the leadership of Director General (DG) NAB Lahore, Muhammad Ahtram Dar, convened its monthly Open Hearing at NAB Lahore Bureau, today. A large number of affectees of various illegal housing Societies and fraudulent Ponzi schemes participated in the session and presented their grievances directly to the DG NAB. Victims of several major housing scandals, including the Prime Zone Scandal, Al-Rehman Garden Phase 4, Khayaban-e-Amin Housing Society, and Palm Vista Housing Scheme, were present in significant numbers. Additionally, complainants related to Grand Avenue Housing, Professional Cooperative Housing, New Lahore City, Omega Housing, and Bin Alam Housing Scandals also brought forward their grievances during the hearing. DG NAB Lahore, Muhammad Ahtram Dar, attentively listened to the concerns of all complainants and reassured them of NAB's commitment to ensuring justice and accountability. He issued clear deadlines to the relevant investigation teams for making significant progress in all cases and emphasized the importance of delivering timely relief to the public in line with the directives of the Chairman NAB. In his remarks, DG NAB Lahore highlighted that the Bureau is fully committed to safeguarding the rights of victims and ensuring restitution of their losses through lawful means. He reiterated that the instructions of the NAB Chairman are clear to provide immediate and effective relief to the public. Addressing the victims of the Prime Zone Scandal, DG NAB Lahore shared that a corruption Reference has already been filed against the accused in the Accountability Court. However, actions are underway to repatriate the main accused back to Pakistan through Interpol. Five other suspects have been arrested and included in the Reference. In the Al-Rehman Garden Phase-4 case, DG NAB directed the investigation team to resolve the registration issues of all 77 victims within two weeks deadline and submit a detailed report, accordingly. For the Khayaban-e-Amin Housing Society case, it was revealed that plots have already been allotted to 550 out of the 700 complainants. DG NAB Lahore instructed the concerned team to resolve the remaining complaints by May 10, 2025. Regarding the Omega Housing Society, the management was directed to refund the victims as per the NAB-approved refund policy, he said. The investigation team was also instructed to ensure strict compliance with the implementation of this policy. The attendees expressed their satisfaction and appreciation for the initiative taken by NAB Lahore, particularly acknowledging the swift actions and timely intervention by DG NAB Lahore. They voiced optimism that their issues will be resolved efficiently in the coming weeks. Copyright Business Recorder, 2025
Business Recorder
01-05-2025
- Business
- Business Recorder
Major corruption cases: NAB Lahore to distribute Rs512m to victims
LAHORE: National Accountability Bureau (NAB) Lahore has commenced the distribution of Rs512 million among hundreds of victims following successful recoveries in three major corruption cases. The affectees of the renowned Double Shah scandal, Toyota Gujranwala Motors, and Ahmed City Housing Society are to receive compensation through cheques. A total of Rs404 million is being distributed to the victims of the Double Shah scandal; Rs104 million to those affected by Toyota Gujranwala Motors; and Rs3.6 million to the victims of Ahmed City Housing Society. The process of issuing intimation letter to above scam affectees has been completed by NAB Lahore. Director General NAB Lahore, Muhammad Ahtram Dar, stated that the protection of victims' rights and compensation for their losses remain the Bureau's top priorities. He emphasized that NAB officers are actively working to ensure swift and fair recovery processes. To facilitate the victims, NAB Lahore has waived the requirement of bringing stamp papers at the time of cheque collection. DG NAB further noted that, under the vision of the NAB Chairman, a strict zero-tolerance policy is being enforced against illegal housing societies and Ponzi schemes that defraud general public under the guise of high-profit returns. Action against all such fraudulent entities is underway. Copyright Business Recorder, 2025
