Real Estate Tycoon Shahid Jamal arrested by NAB, Rs.7.71 Billion scam

National Accountability Bureau (NAB) has arrested a real estate tycoon Sheikh Shahid Jamal of Ali Associates in connection with an on-going investigation against owners/Developers of Green Fort (Plus ) in Mauza Durran Langana ,Matti Tal road ,Multan and others. According to a Press Release of NAB, the accused Sheikh Shahid Jamal in allegedly involved in hoodwinking ,cheating  and defrauding the people at large by launching many unauthorised, unlawful housing projects under the banner of Ali associates.NAB said that the aggregate liability of the accused in five illegal  housing projects is approximately Rs.7,71 billion.The accused reportedly cheated and defrauded thousands of innocent people by selling plots in these unauthorised and unapproved housing schemes.
NAB further states that the accused Sheikh Shahid Jamal launched and advertised housing schemes without the approval of regulatory authority concerned. The accused in connivance with other co-accused evaded taxes, Government fee/dues and Land transfer fee. He did not transfer the land earmarked for roads, mosque, school, community hall and other community amenities. No development works have been executed at site despite lapse of decades. NAB press release says, five Housing projects which are under investigation are ;-Green Fort (Plus)Matti Tal road, Falcon City Phase-II, Southern By-pass, Babar Town,old Shujabad road , Millennium City Phase I, Dunyapur road and Green-Fort,Norther bypass road Multan.
Accused Sheikh Shahid Jamal will be appeared before the Accountability Court Multan on July 23rd for the grant of physical remand to recover the looted money.