The Paragon Housing case has been postponed until the 21st
LAHORE: The accountability court on Wednesday postponed the trial of the Paragon Housing fraud case until April 21. The court has granted Khawaja Saad Rafique his release from his personal appearance on the application requesting the release due to the locking and coronavirus situation.
However, co-accused Khawaja Salman Rafique appeared before the court. The court adjourned the trial until April 21, directing NAB chief witness Qaiser Amin Butt to appear before the court.
It is important to mention here that Qaiser Amin Butt has not appeared in court since many of the last trials for health reasons. According to reference details, Qaiser Amin Butt, the main defendant in the Paragon Housing fraud, voluntarily revealed facts related to the commission of violations and asked for forgiveness under Part 26 of the National Liability Act, 1999 (NAO 1999), which was granted by the competent authority competent. NAB submitted references to Khawaja Saad Rafique, Khawaja Salman Rafique, Nadeem Zia Pirzada, his son Umer Zia and Farhan Ali. The NAB stated in reference that Saad Rafique, in association with his wife Ghazala Saad Rafique, brother of Salman Rafique, Qaiser Amin Butt and Nadeem Zia, started a housing project namely Air Avenue, which is an illegal housing community. Later, it was changed to M / s Paragon City (Pvt) Ltd. Saad Rafique and Salman Rafique, in relations with Nadeem Zia and Qaiser Amin Butt, deceived large numbers of members of the housing community.
Saad opened a company, Executive Builders, in his name and his wife, and then turned it into Paragon and withdrew a large sum of money from the Executive Builders account. The Khwaja brothers embezzled illegal community housing funds for personal gain, and collected large amounts despite clear directions from the Lahore Development Authority (LDA) that the community was illegal.
In addition, Khwaja’s brothers allegedly mistakenly received Rs18.2 million from Paragon City in their account. NAB further stated that Saad Rafique founded a company, namely Saadain Associates, and mistakenly obtained Rs58 million from M / s Executive Builders. Also, Salman Rafique founded a company called KSR Associates and incorrectly obtained Rs39 million from M / s Executive Builders, which was a proxy concern from M / s Paragon City. The NAB claims that the Khwaja brothers have a 93.6 percent stake in Paragon City, while Qaiser Amin Butt has a 7.4 percent stake in the project.