An accountability court in Karachi was on Wednesday informed of massive fraud in Fazaia Housing Scheme Karachi (FHSK) by two builders with the connivance of the Pakistan Air Force (PAF) officials, cheating people of billions of rupees.
The National Accountability Bureau (NAB) had arrested Tanveer Ahmed and Bilal Tanveer, said to be associated with Maxim Properties, for allegedly depriving the public of Rs18 billion through investments in the FHSK.
During the hearing, NAB told the court that the land was allocated to the heirs of martyrs, but only 30 units were allocated to their families out of the 8,400 planned housing units.
According to the NAB, the detained builders, in connivance with the PAF officials, collected Rs18.2bn under the heads of form fees, registration, open certificate, standard and luxury apartments, surcharge, transfer fees, overseas apartments, overseas transfer fee, bungalows, the surcharge, transfer and proceedings fee for the bungalows and direct deposits.
NAB produced suspects in the court for a physical remand, which was extended by 14 days.