ISLAMABAD - The National Accountability Bureau (NAB) has returned Rs 630 million to Shaheen Foundation for payment to its affectees.

Shaheen Foundation Managing Director Air Marshal (Retd) Muhammad Jamshaid Khan called on NAB Chairman Qamar Zaman Chaudhry at the NAB Headquarters where the NAB Chairman presented him a cheque of Rs 43 million, which will be returned to the affectees of M/s Shaheen Foundation .

The NAB has returned Rs 630 million to Shaheen Foundation recovered from the present management of Al-Hamra (Pvt) Ltd and Management of Eden Builders (Pvt) Ltd so far.

In a case of Al-Hamra (Pvt) Ltd and Management of Eden Builders (Pvt) Ltd, the NAB Rawalpindi has successfully pursue the management to realise the recovery of Rs1,832.168 million alongwith the profit of Rs573.412 million from the present management of Al-Hamra (Pvt) Ltd, Al Hamra Avenue (Pvt) Ltd through its chief executive and others.

In this case, previous management of the said companies deceived the Shaheen Foundation and its 700 members by inducing them to book the plots in their projects and received Rs 1,258 million approximately.

The subject accused has failed to hand over the plots to Shaheen Foundation rather the land was sold to other parties and deprived the members of Shaheen Foundation of their hard-earned money.

During the inquiry proceeding the present management of Al-Hamra (Pvt) Ltd, Al- Hamra Avenue (Pvt) Ltd shown willingness in writing to return Rs 573 million as a profit in addition to principal amount of Rs 1,258.758 million due to the NAB efforts.

The NAB to date has returned Rs 630 million to Shaheen Foundation for payment to the affectees of M/s Shaheen Foundation .

Air Marshal (Retd) Muhammad Jamshaid Khan appreciated the sincere efforts of the NAB and especially thanked Qamar Zaman Chaudhry, Chairman NAB for recovering looted money of the affectees of Shaheen Foundation .