Islamabad: NAB arrests marketer on fraud charges
ISLAMABAD: The National Accountability Bureau (NAB) has arrested Muhammad Akhtar, the Bankers City Housing Scheme director (marketing), on fraud charges, a press release said on Tuesday. Akhtar was arrested after the Accountability Court, Rawalpindi, cancelled his bail. “The arrest will facilitate probe into the housing scam,” it said.
It said the housing society had collected Rs 2.65 billion in the shape of plot bookings, transfer charges of files etc. It said the society paid millions of rupees to land suppliers and commission agents in violation of Statuary Regulatory Order (SRO) 954.
Syed Rahat Mehmood Qadri, the society’s chief executive, was the main accused and was arrested on February 26, 2007, it said, adding Qadri was now in judicial lockup. “NAB has filed a reference against the chief executive and directors of the housing society. Land suppliers and commission agents have also been named in the reference. Further investigations are under process,” it said.
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