In a major breakthrough, the National Accountability Bureau (NAB) has announced that it has started repaying thousands of victims who were defrauded in one of Pakistan’s largest financial scams. The bureau has hailed this effort as a significant milestone in its recovery campaign.
According to an official statement released by the anti-corruption watchdog on Thursday, NAB’s Rawalpindi chapter has begun disbursing Rs3.7 billion to 17,500 victims of a Ponzi scheme. The fraudulent company had enticed investors with promises of a 7% monthly return.
The payout was launched at a ceremony at NAB headquarters in Islamabad, presided over by Chairman Lt Gen (retd) Nazir Ahmed. Of the 17,500 victims, 10,000 have received their full amounts. The remaining 7,500 are being paid 40% of their dues in this initial phase. The balance will be cleared within six months, once the properties seized from the accused are liquidated.
The scam, masterminded by Saif-ur-Rehman and his associates, was investigated by NAB after hundreds of complaints were filed with the bureau and the Securities and Exchange Commission of Pakistan (SECP). Investigators successfully traced and froze 56 bank accounts, along with various properties and assets belonging to the culprits, while also verifying victims’ claims through digital records.
Addressing the ceremony, the NAB chairman reiterated the bureau’s commitment to pursuing cases involving the public and ensuring the swift return of stolen funds. He urged citizens to exercise caution before investing in any schemes and to verify their legitimacy to avoid exploitation.
The chairman praised the efforts of the NAB Rawalpindi/Islamabad team and announced an Umrah package for them as a gesture of recognition. He also stated that, going forward, compensation will be directly deposited into victims’ bank accounts, eliminating the need for them to visit NAB offices in person.
NAB emphasized that this initiative highlights its dedication to protecting public interests, recovering looted wealth, and rebuilding trust. Many of the beneficiaries present at the event expressed their gratitude, stating they had lost all hope of retrieving their savings until NAB’s intervention.
