Noose tightens around ‘Double Shah and Co’

[Naveed Yaseen]

* Names of Double Shah, 22 others put on ECL
* NAB issues reimbursement schedule for victims

Aaj Kal Report

LAHORE: The names of Double Shah and another 22 money scam accused have been placed on the Exit Control List (ECL) whereas the Interpol has also issued red notices for another two accused living abroad.

The National Accountability Bureau (NAB) recovered Rs 2.3 billion from Double Shah and 11 others, including his brother and daughter and reimbursed Rs 680 million to 17,000 victims. The NAB has issued a schedule for the reimbursement of Rs 1.7 billion among 19,980 victims while another schedule will be issued soon to pay another 10,364 victims. According to an Aaj Kal report, the process to reimburse Rs 800 million to 5,000 victims started on Thursday. The money had been deposited through 126 agents. Another process will be started after Eid to reimburse Rs 900 million to 15,013 victims who had deposited money with Zaheer Abbas Ghumman and Syed Tasawwar Hussain Gillani through 226 agents.

According to a report prepared by NAB, the accused have admitted to swindling Rs 8.1 billion from 46,364 people and have filed applications to deposit all outstanding amounts with the NAB. According to the report, 4,411 victims had deposited their money directly with Double Shah while 19,980 victims had deposited money through 126 agents.

Double Shah’s victims: The NAB has recovered Rs 971 million from the accused through an out-of-court settlement, while Rs 244 million had already been reimbursed to his victims. A process has also been started to distribute Rs 726.8 million among his victims.

Zaheer Abbas Ghumman: At least 2,025 people had deposited their money directly with Ghumman whereas 4,400 individuals had deposited their money through 150 agents. About Rs 637 million were recovered from him through the out of court settlement, out of which Rs 200 million had been reimbursed to his victims. Distribution of another Rs 435 million among his victims is in process, says the report.

Tasawwar Hussain Gillani: At least 4,205 individuals had deposited their money directly with Gillani while 10,613 victims had deposited their money through 76 agents. The NAB recovered Rs 599 million from him through out of court settlement, and reimbursed Rs 239 million. A process has been started to distribute Rs 320 million among the victims. Punjab NAB Director General Major ® Shahnawaz Badar told Aaj Kal that red notices had been issued against Shahid Jamil and Tasawwar Hussain and a team would soon go abroad to bring them back to the country.

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