LAHORE: The National Accountability Bureau (NAB) on Tuesday arrested former president of a private housing scheme on multiple charges including benami accounts, possessing assets beyond means and defrauding public at large.

A NAB spokesperson said former president of the Green View Cooperative Housing Society, Mian Rafaqat Ali, was arrested by the Bureau after a local court rejected his pre-arrest bail.

Rafaqat, the prime suspect in the case, will be produced before an accountability court to seek his physical remand, he added.

The suspect is accused of getting huge financial benefits by misappropriating in the land of the society, the spokesperson said, adding that during the initial investigation, it emerged that Rafaqat under his and his family’s name allegedly made assets worth over Rs 400 million.

He said that the NAB also traced over 100 benami bank accounts for which a formal investigation has been started.

According to the spokesperson, the anti white-collar crime agency has, so far, received 70 complaints against Rafaqat by the administrations of the Green View Cooperative Housing Society and the Motorway City. He said the suspect is also accused of causing an approximate loss of Rs 50 million to the Green View Society on the pretext of development.

“Though the suspect remained completely failed to justify his and his family members’ assets, the Bureau has found out that Rafaqat and his family owns assets at least worth over Rs 400 million. Of them, the family owns an agriculture land measuring 1,235 kanals, 48 residential and 40 commercial plots, one kanal plot in Gulberg area and 26 kanal piece of land in the Motorway City,” the spokesperson added.

Copyright Business Recorder, 2021