ISLAMABAD (Kashmir English): The National Accountability Bureau (NAB) Islamabad/Rawalpindi on Tuesday handed over recovered assets worth more than Rs4.1 billion to the Rawalpindi Development Authority (RDA) in a major embezzlement case involving the authority’s departmental funds.
According to NAB, there was a formal handing-over ceremony at NAB Islamabad/Rawalpindi where Director General NAB Islamabad/Rawalpindi Waqar Ahmad Chauhan formally handed over the recovered assets consisting of Call Deposit Receipts(CDRs) as well as immovable properties to representatives of RDA.
The case relates to the embezzlement of funds belonging to the Department of RDA via issuance of 321 CDRS.
Following investigations by NAB Islamabad/Rawalpindi, Rs1.75bn has been recovered via plea bargains, settlements and recoveries. Meanwhile, 31 immovable properties valued at approx Rs2.3bn each have also been frozen, with a receiver being appointed to look after these assets.
The recovery was made possible due to close supervision provided by Director General NAB Islamabad/Rawalpindi Waqar Ahmad Chauhan.
The investigation team headed by Director Ilyas Qamar with Deputy Director Shahid Hussain & Assistant Director Hamza Iqbal successfully concluded their inquiry leading to this important outcome.
Director General also commended the outstanding performance of the concerned team and reiterated the fact that recovery and restitution of public assets were amongst the topmost priorities for NAB.
The assets during the ceremony have been formalised handing over to the RDA for restoring the embezzled public funds/asset to the respective institution.
A reference against the accused shall also be filed soon in Accountability Court, Rawalpindi. Efforts to recover the remaining amount are still ongoing.
