NAB Begins Repaying Victims of Major Financial Scam

ISLAMABAD: In a significant step, the National Accountability Bureau (NAB) has commenced the process of reimbursing thousands of individuals defrauded in one of Pakistan’s most extensive financial frauds, marking a substantial achievement in recovery efforts.

As per an official announcement released by the anti-graft agency on Thursday, NAB’s Rawalpindi division has initiated the distribution of Rs3.7 billion to 17,500 victims of a Ponzi scheme operated by a company that attracted investors by promising monthly returns of 7%.

The payout was inaugurated at a ceremony held at NAB headquarters in Islamabad, with Chairman Lt Gen (retd) Nazir Ahmed presiding over the event.

The anti-corruption body stated that among the 17,500 affected, 10,000 have been fully compensated, while the remaining 7,500 are receiving 40% of their owed amounts in this initial stage. The remaining balance is scheduled to be settled within a six-month period, contingent upon the sale of assets seized from the accused parties.

The fraudulent scheme, masterminded by Saif-ur-Rehman and his accomplices, was subjected to investigation by NAB following numerous complaints submitted to both the bureau and the Securities and Exchange Commission of Pakistan (SECP).

Investigators successfully identified and froze 56 bank accounts, along with various properties and assets linked to the perpetrators, while also validating claims using digital evidence.

During the ceremony, the NAB chairman affirmed the bureau’s dedication to pursuing cases affecting the broader public and ensuring the prompt return of misappropriated funds.

He advised the public to exercise vigilance when considering investment opportunities and to verify their legitimacy in order to prevent potential exploitation.

The chairman commended the NAB Rawalpindi/Islamabad team for their diligent work and announced an Umrah pilgrimage package in recognition of their accomplishments.

Furthermore, he indicated that future compensation payments will be directly deposited into the bank accounts of victims, eliminating the necessity for in-person visits to NAB offices.

NAB underscored that this initiative demonstrates its commitment to protecting public interests, recovering illicitly obtained wealth, and restoring confidence. Many beneficiaries attending the event voiced their appreciation, stating they had lost all hope of recovering their savings until NAB’s intervention.