LAHORE - An accountability court has extended the physical remand of prime accused in a 16 billion rupees land scam related to Defence Housing Authority (DHA) city .
Hammad Arshad, CEO of Globaco (pvt) Ltd, was taken into custody after he was found involved in the scam , which is said to be the biggest scam of the country’s history.
The nab officials yesterday pleaded the court that 14-day physical remand of the suspect was required to investigate the matter. The court accepted the plea and allowed two-day physical remand of the accused.
nab sources say the bureau will take up to 90 days to complete investigations and send a reference against the accused. They said the nab would attach concrete evidence with the reference so that the accused gets convicted.
The sources added that the involvement of Mr Hammad in the scam was beyond any doubt. However, it was premature to say if Kamran Kayani, the brother of former army chief Gen (r) Ashfaq Pervez Kayani, was also involved. His role would come to light only after thorough investigations, the sources further said.
The sources said for the time being there was no possibility of Gen Kayani’s brother being arrested. In 2009, the company of the accused was given contract by DHA-EME for acquiring 25,000 kanals land for dha city , but the company failed to acquire the land.
The officials alleged that the company issued allotment letters and collected about Rs 15.47 billion from different citizens. The officials also alleged that the accused transferred that amount to his personal account for using it for other businesses.
The role of Elysium Holdings Pakistan Limited of Kamran Kayani as well as other companies in the scam , they added.
Lahore High court Chief Justice Ijazul Ahsan had marked the case to Accountability court No 4 Judge Khaqan Babar who will hear it from tomorrow (Monday) to onwards till the further orders.
Previously, Accountability court Judge Abdul Sattar - the admin judge of the accountability courts - handed over the suspect to nab authorities for one-day physical remand . During the proceedings, the judge said that he would not hear the case for some personal reasons and sent an application to the chief justice to fix it before any other court .
Sources said that LHC Registrar Tariq Iftikhar also remained present at nab courts’ premises when the nab officials presented the case record before the court and sought physical remand of Hammad Arshad.