LAHORE: The Lahore High Court (LHC) on Tuesday rejected bail pleas filed by former minister for Railways, Khawaja Saad Rafique and his brother Khawaja Salman Rafique, in Paragon Housing scam case, ARY News reported.
A two-member bench of the court headed by Justice Baqir Ali Najfi earlier had reserved the verdict in the pleas.
“The reasons for rejection of bail pleas will be disclosed in the detailed verdict”, the verdict said.
Earlier in the day, at the outset of the hearing, Khawaja brothers’ counsel had informed the court that his clients have nothing to do with Paragon Housing scam and added Qaiser Ameen Butt’s statement was recorded twice before the magistrate.
“NAB first rejected Qaiser’s statement and later recorded his statement of its choice”, Khawaja brothers’ counsel alleged.
He said inquiry against his clients carried out for three years and were closed later, he had said.
Read More: Paragon housing scandal: LHC adjourns bail petitions of Khawaja brothers
Paragon Housing scam
According to NAB, Khawaja Saad Rafique in collusion with his wife Ghazala Saad Rafique Butt, brother Salman Rafique, Qaiser Amin Butt and Nadeem Zia had launched a housing project named Air Avenue, which was later renamed to Paragon City (Pvt) Ltd.
The accused allegedly connived with Nadeem Zia and Qaiser Amin Butt to defraud several members of the society and misappropriated project funds for personal gains. The accused collected huge amounts in flagrant violation of directions from the Lahore Development Authority (LDA).
Besides, Saad Rafique acquired 40 kanals of land in his and his brother’s name, which he used to extend the project illegally and sold commercial plots worth billions of rupees.
