Properties of GFS builders frozen by NAB

NAB Multan has ordered the freezing of GFS Builders and Developers’ properties over their involvement in a housing scheme scandal.

According to NAB, the owners and developers of the scheme are accused of cheating the public by selling plots in an unapproved and illegal housing project. The inquiry found that 240 claimants were allegedly defrauded of around Rs414.44 million. In addition, GFS Builders provided a list of 155 more affected people, with losses amounting to Rs118.23 million. This brings the company’s potential liability to nearly Rs533 million.

The NAB order, issued under Section 12 of the National Accountability Ordinance, 1999, directed that all properties and bank accounts linked to the accused, including Irfan Wahid, Mansoor Wahid, and Hassan Shahzaib, be frozen to protect the interests of victims.

Officials said the inquiry is still ongoing, and further investigation will determine the complete scope of the alleged corruption and the total number of victims. NAB has also assured that every effort will be made to recover the looted money and return it to the rightful claimants. The case has once again highlighted the risks of investing in unapproved housing projects and the importance of verifying the legal status of housing schemes before purchasing plots. Authorities have urged citizens to remain cautious and check approvals with relevant development authorities before making any financial commitments.