NAB files reference in DHA City scam

NAB files reference in DHA City scam

NAB files reference in DHA City scam LAHORE: The National Accountability Bureau (NAB) has filed a reference in over Rs15 billion DHA City Lahore scam against prime accused Hammad Arshad, a relative of a former chief justice of Pakistan, Kamran Kayani, a brother of ex-army chief Gen Ashfaq Parvez Kayani, and others in an accountability court.

The process of declaring the co-accused in the scam, Kamran Kayani, a proclaimed offender through the accountability court has also been launched.

“We have filed a reference in the accountability court against Hammad Arshad, Kamran Kayani and others involved in over Rs15 billion DHA City Lahore scam,” a NAB official told Dawn on Thursday.


Kin of a former CJP, ex-army chief among the accused


To a question about any possibility of Mr Kayani’s arrest in this case, the official said after issuance of his arrest warrants by NAB, the process of getting him declared proclaimed offender (PO) through an accountability court had been initiated. “Once Mr Kayani is declared PO, the bureau will make efforts to bring him back from abroad,” the official said.

When asked about the suspects taking recourse to plea bargain, he said neither Mr Arshad nor Mr Kayani had applied for the option.

The reference also includes the name of former project director of DHA City Khalid Nazir Butt, who along with Mr Arshad, is on judicial remand.

This January, NAB arrested Hammad Arshad, the owner of the Globaco (Pvt) Ltd. The DHA declared Mr Kayani’s firm, Elysium Holdings Pakistan, co-accused in the scam.

According to NAB, Globaco signed an agreement with DHA EME in November 2009, agreeing to develop the DHA City Lahore on a tract of land measuring 25,000 kanals near Thokhar Niaz Baig.

The firm managed to purchase only 13,103 kanals of land, and that too in a scattered form. Mr Arshad collected Rs15.47bn from the public by issuing allotment letters and later transferred the money to his personal accounts. The accused used the funds for personal gains and invested the amount in other business ventures.

NAB said that because “no meaningful development work” was undertaken in the DHA City, the accused cheated the public and the families of soldiers and martyrs, depriving them of their hard earned money.

Of the amount received by the main accused from the public, Arshad spent only Rs1.82bn to acquire the 13,103 kanals.

There are more than 11,700 persons affected by the scam registered with the DHA, which claims that Globaco — now known as Orange Holding Private Limited, an offshoot of Eden Private Limited — “intentionally kept delaying the project and gave different options for more financial gains”.

Sources said Mr Kayani’s liability in the scam had been determined which totaled up to about Rs4bn. He is currently abroad.

Meanwhile, NAB has also initiated a fresh inquiry into Rs165 million loan default by Mr Kayani in a separate case.

Source: http://www.dawn.com/news/1277032/nab-files-reference-in-dha-city-scam

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