LAHORE: The National Accountability Bureau (NAB) has recovered Rs1.17bn from illegal private housing society, La Villa De Paris.

At first the NAB made disbursement of Rs510.1 million among 887 victims.

NAB Lahore Director General Amjad Majeed Aulakh said on the occasion on Wednesday that by adopting a pragmatic strategy of mutual settlement, it effectively initiated the process of returning Rs1.172 billion to the victims of La Villa De Paris, Private Limited.

He said that in June 2023,thebureaulaunched investigations into the said housing scandal. `Further revelations marked that the hard-earned money of 1,346 victims was pilfered by society administration, however, a total of 8,790 claims were submitted with the NAB, on which, the society administration was induced to return the looted money to the victims without causing delay. Although, a significant amount has been returned to the victims, with assurances of full compensation to all by February 2025.

In the first phase, 887 victims bearing 3,869 claims have been returned Rs510.12 million (in the shape of cash or plots), which is 66 per cent of the total victims.

`However, the society administration has assured that the remaining 34pc of the victims will be compensated by Feb 15.