ISLAMABAD: The National Accountability Bureau (NAB) on Tuesday filed a reference against owners of Meadows Real Estate and Builders, Bahria Town, Islamabad/Rawalpindi, Zahoor Ahmed and Muhammad Usman in Accountability Court Islamabad.
As per details issued here, both the accused persons opened an office of Real Estate namely Meadows Real Estate and Builders in Bahria Town Phase-8 Islamabad/Rawalpindi and started to induce general public through brochures for investment in their projects of real estate with an agreed rate of profit.
In fact, neither they were doing any business nor they were investing in real estate. As a result, they collected huge amount from the general public at large as 26 applicants have submitted their claims so far to the tune of Rs447.023 million which is a joint liability of both the accused persons.
Both of them did misappropriation of money and deprived the public at large from their hard earned money.
During the course of the investigation, it came to the surface that the accused persons collected the amount by showing a fake project.
In his comments, Rawalpindi NAB Director General Irfan Naeem Mangi said that under the able leadership of its Chairman Justice (r) Javed Iqbal, NAB’s officers are determined to perform their duties with absolute objectivity and thorough professionalism.