Islamabad – In a major relief for thousands of fraud victims, the National Accountability Bureau (NAB) distributed Rs. 3.7 billion to affectees of the infamous B4U Ponzi scheme at a ceremony held in Islamabad on Thursday.
The B4U scam, led by Saif-ur-Rehman and associates, is regarded as one of Pakistan’s largest financial frauds. Through shell companies, the group lured the public by promising a fixed monthly return of 7%, ultimately collecting billions of rupees.
After receiving hundreds of complaints from investors and the Securities and Exchange Commission of Pakistan (SECP), NAB launched a formal inquiry in February 2021. Investigators froze 56 bank accounts, properties, and other assets belonging to the accused, while digital data was analyzed to verify victims’ claims.
The bureau has so far initiated recovery worth Rs. 7.3 billion. In the first phase, 17,500 victims are receiving payments—10,000 of them their full investments back, while 7,500 others are being compensated with 40% immediately. The remaining 60% will be cleared once the accused’s properties are sold.
Speaking at the ceremony, NAB Chairman Lt. Gen. (R) Nazir Ahmed reaffirmed the bureau’s commitment to prioritize public interest cases. He stressed that every penny looted will be recovered and returned, while also urging people to be cautious and thoroughly verify investment schemes before committing their savings.
The Chairman lauded NAB Rawalpindi/Islamabad for their relentless efforts in the case and announced an Umrah package for the entire team as recognition of their hard work. He also revealed that in the future, victims will no longer need to visit NAB offices to claim compensation; funds will be directly transferred to their bank accounts.
Victims attending the ceremony expressed gratitude, saying they had lost all hope of ever recovering their savings. The event was attended by Prosecutor General Accountability Syed Ihtesham Qadir Shah, DG NAB Waqar Ahmed Chohan, senior NAB officials, and hundreds of scam affectees.
