Islamabad Housing Scam Exposes 36,000 Illegal Plot Files
Authorities have exposed the major Islamabad housing scam involving the Islamabad Cooperative Housing Society. Investigators say the society issued nearly 36,000 illegal plot files without enough land. As a result, thousands of people may have invested in plots that did not legally exist.
Officials revealed that the society’s approved layout plan allowed only 6,000 plot files. However, former office bearers allegedly issued around 42,000 files over several years. Therefore, investigators believe the accused used fake and excessive files to collect billions of rupees from the public.
NAB Finds Missing Records and Financial Irregularities
The National Accountability Bureau (NAB) Rawalpindi and Islamabad continue to investigate the case. Investigators discovered missing payment records and incomplete allotment documents for thousands of files. In addition, several plots reportedly lacked legal approval and proper documentation.
Officials estimate financial irregularities at more than Rs.16 billion so far. However, investigators expect the amount to increase as they examine more records and transactions. Authorities also suspect that some officials systematically sold duplicate and fake files to buyers.
Former Officials Arrested in the Case
NAB officials have arrested seven suspects connected to the former management committee and a private land dealing company. Those arrested include former Secretary General Mehdi Khan Shakir, former Treasurer Malik Muhammad Nawaz, and former Executive Member Muhammad Arshad.
Moreover, authorities detained four individuals linked to Land Stock Dealing Point Company. The suspects include Munir Akhtar, Ali Mahmood, Yameen Malik, and Ghulam Jailani.
Meanwhile, an accountability court in Islamabad granted NAB a seven-day physical remand of the accused. Investigators will recover evidence, trace financial transactions, and identify additional facilitators. Furthermore, officials expect more arrests as the Islamabad housing scam investigation moves forward.
