Web Desk: National Accountability Bureau (NAB) has handed over recovered assets worth more than Rs4.1 billion to the Rawalpindi Development Authority (RDA) after investigating a large-scale embezzlement case involving the authority’s departmental funds, the anti-graft watchdog said.
The assets, comprising cash recoveries in the form of Call Deposit Receipts (CDRs) and frozen immovable properties, were formally transferred during a ceremony held at NAB Islamabad/Rawalpindi on Tuesday.
According to NAB, the case involves the alleged misappropriation of RDA funds through the issuance of 321 Call Deposit Receipts.
The bureau said its investigation led to the recovery of Rs1.75 billion through plea bargains, settlements and other recoveries. In addition, authorities froze 31 immovable properties valued at approximately Rs2.3 billion and appointed a receiver to oversee the assets.
The combined value of the recovered assets exceeds Rs4.1 billion.
Director General NAB Islamabad/Rawalpindi Waqar Ahmad Chauhan formally handed over the recovered assets to representatives of the Rawalpindi Development Authority during the ceremony.
NAB said the transfer was intended to restore embezzled public funds and assets to the government institution affected by the alleged fraud.
The bureau said the recovery operation was carried out under the supervision of Director General Waqar Ahmad Chauhan.
The investigation was led by Director Ilyas Qamar, with Deputy Director Shahid Hussain and Assistant Director Hamza Iqbal serving on the inquiry team.
NAB said the investigation enabled the successful tracing and recovery of the embezzled assets.
During the ceremony, Chauhan commended the investigation team for its performance and said recovering and restoring public assets would remain one of the bureau’s top priorities.
NAB said it plans to file a reference against the accused before the Accountability Court in Rawalpindi in the coming days.
The bureau added that efforts are continuing to recover the remaining amount allegedly embezzled in the case.
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