Authorities have uncovered what many are calling one of Pakistan’s largest housing frauds in the Islamabad Cooperative Housing Society (ICHS). Investigations by the National Accountability Bureau (NAB), Rawalpindi-Islamabad, reveal that the society issued around 42,000 plot files, even though its approved land and layout plan could support only about 6,000 plots. This means nearly 36,000 files were allegedly issued illegally.
The massive gap between available land and sold files has shocked thousands of buyers who paid money hoping to get plots. NAB officials say former office-bearers and facilitators misused their authority over several years. Many important records of payments and allotments are missing, raising further suspicions of fraud.
NAB has already arrested several people linked to the society’s former management and associated land companies. The inquiry is looking into financial irregularities that may run into billions of rupees. Authorities are now verifying documents, payments, and land ownership details.
This scam has created huge problems for affected families who invested their savings. It highlights serious weaknesses in the regulation of housing societies in Islamabad. Experts say stricter oversight and quick action are needed to protect ordinary investors from such frauds.
The case is still under investigation, and more arrests and details are expected soon. NAB has promised to recover the money and take strict legal action against those responsible.
