Major Recovery in Kohistan Financial Scandal

In a significant development concerning the Rs40 billion financial scandal in Kohistan, Khyber Pakhtunkhwa, investigators have successfully recovered Rs1.59 billion in cash, gold, and foreign currency. These recoveries were made during targeted raids on the residences of key individuals under suspicion.

The ongoing investigation is expanding to include high-ranking government officials and contractors. Authorities are increasing their efforts to fully uncover the extent of the alleged corruption.

The financial irregularities came to light on April 30, and have since garnered widespread attention. A subsequent audit verified significant financial discrepancies, which led the Public Accounts Committee (PAC) to commence formal proceedings.

Sources indicate that search operations have been executed at the properties of 12 individuals linked to what is considered one of Pakistan’s largest financial scandals. The identities of these individuals are being withheld to prevent any interference with the ongoing investigation and asset recovery efforts.

To date, approximately 50 individuals have been questioned, and the investigation is set to broaden to encompass an additional 100 individuals. Significant revelations, potentially exposing key figures at the heart of the scandal, are anticipated in the near future.

According to sources, the raids targeted homes and offices of 12 officers, officials, and contractors across various cities within the Hazara Division, including Abbottabad and Mansehra.

During the operations, three kilogrammes of gold were seized from the residences of three individuals, while $50,000 was found at another location. In total, Pakistani currency amounting to Rs1.5 billion has been confiscated from the homes of the 12 suspects.

The estimated value of the recovered gold exceeds Rs80 million. The $50,000 is equivalent to roughly Rs1.39 million in Pakistani currency. When combined with Rs10 billion already secured in 50 frozen bank accounts, the total recovery amounts to Rs1.59 billion.

Those implicated in the recoveries include personnel from the Communications and Works Department (C&W), the District Accounts Office, government bank employees, and officers. Cash has also been recovered from the residences of certain contractors.