Lahore: Remand of accused in bogus housing society case extended
LAHORE: Judicial Magistrate Zafer Iqbal on Monday extended four-day physical remand of Prof Dr Iftikhar Baig of a college and former chairman of the Board of Intermediate and Secondary Education, Rawalpindi, an accused of depriving 4500 people of Rs 1 billion in the name of a bogus housing society.
On Monday, Investigation Officer (IO) Inspector Rana Fawad of Anti–Corruption Establishment produced the accused before the court. The IO sought extension to physical remand of the accused to carry out further investigation. At this, the court extended remand of the accused, directing the IO to produce him again before the court on March 22 along with the investigation report. As per case details, the accused was at large and was arrested by Anti–Corruption Department on Tuesday from the MAO College where he was present to join a sports day ceremony as the chief guest.
An FIR (No 17/11) had been registered against the accused in Rawalpindi by Raja Abbas Ali, stating that Dr Iftikhar and his accomplices had launched a bogus housing scheme, over 4,000 kanals on the Fateh Jang Road near Islamabad airport. They launched the project with the help of an NGO and around 4,500 people were deprived of Rs1 billion in the scam. Partners of Dr Iftikhar included MAO College’s professor Syed Ishfaq Hussain Shah, former Finance Department employee Nazir Ahmed, Zubaida Baig, wife of Dr Iftikhar, Lubna Tirmizi and Shamim Akhtar. Each victim of the scam had paid Rs61,000 to the ‘owners’ of the housing society, Rs50,000 in advance and Rs1,000 as a membership fee and Rs10,000 in commission.