MULTAN – National Accountability Bureau (NAB) Multan takes stern action, freezing properties and bank accounts of GFS Builders and Developers amid allegations of a massive housing scam.
Information available with Pakistan Observer said the company stands accused of duping hundreds of people through the illegal GFS-7 Wonders City Housing Scheme.
According to NAB documents, around Rs40 crore was allegedly taken from 240 victims, with further Rs11.8 crore linked to 155 additional claimants, pushing total potential fraud to staggetig Rs50 crore.
The accused, including Irfan Wahid, Mansoor Wahid, and Hassan Shahzaib, now face serious scrutiny as the investigation continues to uncover the full extent of this multi-million-rupee scandal.
NAB vowed to leave no stone unturned in exposing the alleged corruption behind one of Multan’s biggest real estate frauds.
National Accountability Bureau (NAB) also started compensating around 17,500 victims of Rs 7.3 billion B4U online Ponzi scheme. In the first phase, Rs 3.7 billion is being distributed, with 10,000 victims receiving full payments and 7,500 receiving 40% of their amounts, the rest to follow within six months after selling the accused’s assets.
B4U was speaheaded by Saifur Rehman and associates, promised a 7% monthly return through investments in property, crypto, IT, transport, and trading. NAB froze 56 accounts and properties during its investigation, recovering the looted funds.
