NAB’s role against property frauds

The National Accountability Bureau (NAB) has instructed individuals robbed by AAA Associates to submit their compensation claims to the NAB Rawalpindi bureau within the next two weeks. According to the reports, the Bureau was investigating the allegations of extortion of money, fraud, cheating, and false promises perpetrated by individuals working with or on behalf of AAA Associates, a real estate firm based in Bahria Town, Rawalpindi. According to the authorities, the victim individuals must provide supporting documentation, including a copy of their Computerized National Identity Card (CNIC) and receipts, either via post or email within the next fifteen days, so regular legal proceedings against the culprits should be commenced.

The ungoverned real estate businesses and illegal construction of housing societies/projects have flourished across the country while this mournful activity has also grown unrestrictedly in the twin cities in the past years. The Property tycoons and builders are well-versed in the techniques of entrapping innocent citizens in fake and flimsy housing projects through social media campaigns and advertisements declaring invaluable barren land as residential and commercial plots, main boulevards, and business squares. Unfortunately, thousands of people lost their hard-earned money and lifelong assets to these white-collar criminals and burglars in the hope of getting their own adobe, but struck in unending wait or litigation cases in realization of their dreams. Countless people filed lawsuits and lodged complaints with the Police, the FIA, NAB and and Federal Ombudsman office against this fake housing schemes and criminal conduct of property tycoons but the state institutions including the RDA and CDA failed in controlling/ regulating the real estate mafia. Fortunately, the NAB authorities have faithfully taken serious notice of this criminal attitude of real estate mafia and extensive investigations were launched into multiple fake and illegal housing schemes including the Arain City and AAA Associate. Previously, the NAB authorities successfully recovered over Rs 600 million looted money from Arian City owners and returned to 450 affectees of the Arain City housing project.

Currently, another fraudulent scheme namely AAA Associates is under Bureau’s radar, and innocent victims of the fraudulent scheme are hopeful about the safe returns of the hard earned money. There are countless cases of property frauds and fake housing schemes in Rawalpindi/Islamabad that need due diligence and actions from the concerned authorities so the fraud property businesses and fake real estate scams could be stopped completely, while genuine and law abiding businesses serve the masses in a good faith and spirit.