Investigators have uncovered a massive housing scam in the Islamabad Cooperative Housing Society (ICHS), which is being described as one of the largest in the country’s history.
Officials said the society had the capacity to issue only around 6,000 plot files based on its approved land and layout plan. However, nearly 42,000 plot files were allegedly sold over time.
This has created a major gap between available land and issued allocations. Investigators believe around 36,000 files are illegal or issued without actual land backing.
Sources said many buyers were given files for plots that did not exist. In some cases, land had no legal approval. In other cases, records were incomplete or missing entirely.
Authorities said payment records for thousands of files are also untraceable. This raises serious questions about financial management and documentation within the society.
Investigators believe fake, duplicate and excess files were systematically issued. Through this process, billions of rupees were allegedly collected from the public.
So far, financial irregularities of more than Rs16 billion have been identified. Officials said the amount may increase as further records are examined.
NAB confirmed the arrest of seven individuals linked to the case. Those arrested include former office bearers of the housing society and officials of a private land dealing company.
The arrested suspects include former Secretary General Mehdi Khan Shakir, former Treasurer Malik Muhammad Nawaz, former Executive Member Muhammad Arshad, and four others connected to Land Stock Dealing Point Company.
An accountability court in Islamabad has granted a seven-day physical remand of the accused to NAB. The bureau will continue investigations during this period.
Officials said the remand will be used to recover documents, trace financial transactions, and identify other individuals involved in the scam.
Investigators said the inquiry is expanding. Multiple teams are reviewing land records, administrative approvals, and financial dealings of the society.
