RAWALPINDI: NAB Rawalpindi has begun distributing compensation to a record number of victims involved in the B4U financial scam, with 17,500 individuals receiving payments via cheques.
As per an official statement from NAB, a dedicated ceremony was held for the distribution of recovered funds, which was attended by the Chairman of NAB. The B4U investment scheme had deceived the public by promising a monthly return of 7%, ultimately collecting billions of rupees.
NAB Rawalpindi revealed that one suspect had 56 bank accounts along with numerous properties and other assets, all of which have been frozen. Following extensive legal action, a recovery operation worth Rs. 7.3 billion has been launched.
During the first phase, Rs. 3.7 billion is being handed out to 17,500 affected individuals. The remaining 60% of the recovered funds is expected to be disbursed within the next six months, following the auction of the culprits’ seized assets.
According to NAB, 10,000 victims have already received their full compensation, while another 7,500 are currently receiving 40% of the total amount due to them.
