Independent Report
Islamabad: The National Accountability Bureau (NAB) has begun refunding Rs1.2 billion to victims of the Bankers City Housing Scheme scam, marking a major breakthrough after two decades. A refund ceremony was held at NAB Headquarters on January 20, chaired by NAB Chairman Lt Gen (R) Nazir Ahmed, with senior NAB officials and affected citizens in attendance.
In the first phase, 476 victims received Rs341 million through pay orders and online transfers. NAB officials confirmed that a total of Rs1,209 million will be distributed among around 2,200 victims in phases, with recoveries exceeding the original investment amount by nearly two-and-a-half times. The case, which surfaced in 2006, involved fake documentation, bogus allotments, and misleading advertisements that defrauded hundreds of citizens.
Addressing the ceremony, the NAB Chairman termed the development a milestone for accountability and public trust, stating that NAB remains committed to protecting citizens from financial fraud. He urged the public to invest only in approved housing schemes. NAB also announced that verification of new claims is underway to ensure no legitimate victim is left out, while appreciating the investigation team’s efforts, including incentives for outstanding performance.
