ISLAMABAD – Famous real estate companies in Pakistan are facing a backlash as investors demand an investigation into alleged billions in fraud.
Investors raised serious allegations against several brands operating in Pakistan, including Imarat Group, Graana.com, Amazon Mall, accusing them of involvement in massive fraud involving billions of rupees, a local publication reported.
According to investors, despite multiple complaints filed with the National Accountability Bureau (NAB), no action has been taken, prompting victims to organize protest outside NAB offices and Pindi Press Club.
The victim of these scams claim that Imarat Group misued funds and are refusing to return their investments. Victims lamented frustration with NAB’s lack of response, which led them to take to streets in search of justice.
After being disappointed from country’s anti-graft watchdog, the investors are now looking at Prime Minister Shehbaz Sharif, NAB DG, and Punjab Chief Minister Maryam Nawaz, to investigate the issue. They specifically named company executives, including Chairman Shafiq Akbar, Javed, and Arsalan Javed, as those allegedly responsible for the fraud.
Amid tensions, protesters warned that they will escalate their protests to a nationwide level if their grievances are not addressed promptly.
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