KARACHI: Sarwer Ahmed Khan, Assistant Director, National Accountability Bureau, Karachi, and Investigation Officer (I/O) of embezzlement case of Rs.800 Million in Karimabad Ismailia Multipurpose Cooperative Society Limited ST-2, Karachi (KIMCSL) was informed in April 2018 against the plundering by Amin Fazwani, one of the dozen accused culprits. 

Being Treasurer of the Society Administrative Committee Amin Mohammad Fazwani and his family members including Noreen Amin Fazwani, Afshan Amin Fazwani, Daulat Amin Fazwani and Asif Fazwani had freely looted the wealth of Society. They had illegally purchased/occupied six (6) flats of the KIMCSL during past 10 years in blocks M, N, S, T and V.  

In addition to this, Shop No. 17 & 18 in Karimabad Market were also in possession of Amin Mohammad Fazwani along with his business partner Parvaiz Halani for Estate Agency business since last 7-8 years, as claimed by the official sources of the Society. 
 
Informed sources disclosed that NAB authorities had so far recovered just Rs.92.625 Million from the accused culprits out of total embezzled amount Rs.800 Million of the case property. However, most interesting fact was that the illegally occupied flats and shops by Amin Fazwani & family were neither sealed nor confiscated by NAB authorities. The result is that he was earning millions of rupees through rent of these unlawful properties in connivance with another culprit Imran Arwan Panjwani. They are lavishly spending Society Funds against the will of general body members including the recovered amount by NAB. It could be assessed from unlawful expenses occurred by them during eight months of May to December 2023 which were more than Rs.32.155 Million, the sources claimed.

It may be recalled that Karimabad Ismailia Multipurpose Cooperative Society Limited ST-2, Karachi (KIMCSL) embezzlement case of Rs.800 Million is still pending with NAB Accountability Court under Reference No.29/2018 since 2019, from where about 15 accused including incumbent former Secretary of the Society Zulfiqar Hassan Ali and Amin Fazwani are on bail. According to NAB the private members being Committee office-bearers had violated the bye-laws, occupied illegally and unlawfully the management of the society. A total of 23 building blocks were approved by Sindh Building Control Authority (SBCA) with amenity area admeasuring 19,500 sq. feet including Primary School, Recreational area, Library, Lavatories, air raid shelters and Emergency Exit (Gate) of building No(s).KA10, KA11, KA16 & KA17.  

Published in The Daily National Courier, August, 17 2024

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