The National Accountability Bureau (NAB) Lahore made its presence felt through an intelligence-based operation, which led to the arrest of a renowned Proclaimed Offender, Babar Sajjad, from the outskirts of Punjab.
The accused had been wanted by NAB for years in connection with the Grand Avenue Housing Society Scandal.
According to details, Babar Sajjad was accused of mischievously selling 1,750 files of Grand Avenue Society, causing a loss of Rs. 360 million to innocent people in a housing scam.
Reportedly, NAB Lahore had canceled the accused’s pre-arrest bail from the High Court. However, Babar Sajjad remained at large for several months with a liability of Rs. 360 million.
NAB Lahore’s investigation team has so far recovered more than Rs. 900 million in connection with the Grand Avenue Housing Society scandal. Sources claim that the same amount has been disbursed among thousands of affected individuals.
The NAB team is scheduled to present the accused before an Accountability Court today to seek his physical remand for the purpose of recovering the embezzled funds and to proceed further in the case.
The arrest of Babar Sajjad marks a tightening of the noose, particularly around housing sector cases, by NAB Lahore.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan