NAB recovers millions of rupees, returns to Shaheen Foundation

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ISLAMABAD: Rawalpindi National Accountability Bureau (NAB) has recovered millions of rupees and returned to Shaheen Foundation.

According to details, Rawalpindi NAB successfully pursued to recover Rs1,832 million from the current management of Al-Hamra (Pvt) Ltd and Al-Hamra Avenue Pvt Ltd through its chief executive and others.  The accused failed to hand over plots and rather sold the land to other parties, which deprived members of Shaheen Foundation of their hard earned money.

During an inquiry proceeding, the present sponsors showed willingness in writing to return Rs573 million as a profit in addition to the principal amount.  In the first phase, Rs366 million was returned to affectees of M/s Shaheen Foundation while in second phase Rs50 million have been returned. In the third phase, Rs117.5 million and in fourth and fifth phases, Rs137 million have been returned to affectees of Shaheen Foundation.

Rawalpindi NAB Director General Irfan Naeem Mangi has said that the bureau believed in zero-tolerance policy against corruption.