ISLAMABAD – National Accountability Bureau (NAB) initiated largest-ever repayment exercise in its history, returning Rs3.7 billion to 17,500 victims of B4U investment scam.
A special ceremony was held at NAB headquarters on Thursday, presided over by Chairman NAB Lt. Gen. (Retd.) Nazir Ahmed. The event was attended by Prosecutor General Accountability Syed Ihtesham Qadir Shah, senior NAB officials, and hundreds of affectees.
B4U scheme, led by Saif-ur-Rehman and his associates, is said to be one of Pakistan’s biggest Ponzi frauds. Investors were enticed with a promise of 7% monthly returns, through which the operators collected billions of rupees from the public.
An officials inquiry into the case was started by NAB in early 2021, after receiving numerous complaints from victims and the Securities and Exchange Commission of Pakistan (SECP). Investigators froze 56 bank accounts, seized properties, and used digital records to verify thousands of claims.
According to NAB, the scam involved Rs7.3 billion, of which Rs3.7 billion has been recovered and distributed in the first phase. Around 10,000 victims have received their entire investment, while another 7,500 have been reimbursed 40 percent, with the remainder to be paid within six months after the disposal of seized assets.
Addressing the ceremony, Chairman NAB vowed to prioritize cases affecting the public and ensure the complete recovery of looted funds. He also urged citizens to exercise caution before investing in any scheme. Appreciating the efforts of the NAB Rawalpindi/Islamabad team, he announced an Umrah package for the staff involved in the case.
The bureau also announced that in the future, compensation will be directly transferred into victims’ bank accounts, eliminating the need to visit NAB offices.
DG NAB Rawalpindi, Islamabad Waqar Ahmed Chohan highlighted the challenges faced during the investigation, while victims present expressed gratitude, stating that NAB had restored their hope of recovering hard-earned savings.
