PESHAWAR: In a major breakthrough in the Kohistan financial corruption case, the National Accountability Bureau (NAB), KP, handed over Rs6 billion recovered assets to the Khyber Pakhtunkhwa government.
The assets were handed over during a special ceremony held here by NAB Chairman Lieutenant General (retd) Nazir Ahmed to KP Chief Secretary Shahab Ali Shah.
According to NAB, the assets transferred in the first phase are worth over Rs6 billion and include Rs5 billion in cash, 1 kilogram of gold, 12 luxury vehicles and 18 valuable properties. These recoveries were made following extensive and systematic investigations into the case.
During the ceremony, NAB KP Director General Farhanullah briefed the participants on the case. He said the Kohistan district has an annual budget of less than Rs50 million. Public resources were looted on a massive scale in this underdeveloped district through fake companies, fraudulent contracting system and a well-organised financial network, he added.
He said the financial structure uncovered during the investigation was extremely complex and organised one. The DG NAB said more than 1,500 bank accounts were forensically examined and analysed during the investigation, while assets worth Rs27 billion have so far been frozen. He said 41 accused have been arrested in the case and investigations and further arrests are ongoing. The NAB chairman, while addressing the ceremony, said the Kohistan financial corruption case is one of the biggest financial scandals in the country’s history, involving embezzlement and misappropriation of more than Rs37 billion in public funds. He said NAB used modern forensic and financial investigative techniques to solve this complex case. The NAB chairman said recovery of looted national wealth is the bureau’s top priority and no compromise will be made in this regard. He said NAB will not take any share or benefit from the recovered amount. “All recovered assets belong to public and are being returned to relevant government,” he remarked. He said further recovery in the Kohistan case is underway and more high-profile arrests are expected in the coming days. He said after the completion of legal formalities, additional recovered assets will also be handed over to the KP government. The NAB chairman appreciated the performance of DG NAB Khyber Pakhtunkhwa Farhanullah and his investigation team. He said they uncovered the large-scale financial network with professionalism and dedication.
