NAB Initiates Probe Into Fazaia Housing Scheme Karachi Scam

Posted by Manahil Estate on | Friday, January 3rd, 2020 | Property News | 2320 Views

Here is a good news for the thousands of affectees of Fazaia Housing Scheme Karachi who have poured billions into this unexpected scam and desperately waited for 5 long years to get hold of their villas and apartments. National Accountability Bureau (NAB) Karachi has finally officially taken up this case and initiated inquiry into this mega scam.

There are reportedly more than 6000 affectees of Fazaia Karachi who have paid over 13 billion rupees to Fazaia Karachi. They invested their hard-earned money in the name of PAF but ended up in this dire situation when there is no possibility of project delivery.

NAB has invited applications/claims from all affectees of Fazaia Karachi Scam with complete details of payments made to Fazaia Project. After the probe is finished, NAB will try to recover the amount from developers and pay it back to the affectees.

Following is a copy of the newspaper advertisement issued by NAB:

In the pursuance of subject investigation, NAB has raided a private marketing company alleged to have been involved in the scam. All official records have been seized and owners have been arrested.

Chairman NAB has given special direction to NAB Karachi for expeditious investigation of this case. Therefore, the agency is actively working to resolve this matter for the relief of helpless affectees.