Shaheen Foundation Managing Director Vice Chief of Air Staff Air Marshal Saeed Muhammad Khan called on NAB Chairman Qamar Zaman Chaudhry at NAB headquarters where Chaudhry presented him a cheque of Rs 117.5 million, which will be returned to the affectees of Shaheen Foundation.
In a case of Al-Hamra (Pvt) Ltd and management of Eden Builders (Pvt) Ltd, NAB Rawalpindi has successfully pursued the management to realise the recovery of Rs 1832.168 million from the present management of Al-Hamra (Pvt) Ltd and Al Hamra Avenue (Pvt) Ltd through its chief executive and others.
In this case, the previous management of the said companies deceived the Shaheen Foundation and its members by inducing them to book the plots in their projects and received approx Rs 1,258 million. The subject accused failed to hand over the plots rather the land was sold to other parties and deprived the members of Shaheen Foundation from their hard earned money.
During the inquiry proceedings, the present sponsors showed willingness in writing to return Rs 573 million as a profit in addition to the principal amount. In the first phase, Rs 366 million have already been returned to the affectees of Shaheen Foundation due to NAB’s efforts. In the second phase, Rs 50 million were returned, whereas today in the third phase, Rs 117.5 million were returned to the affectees.
