The agency found that Meinhardt Singapore extorted billions of rupees from people
ISLAMABAD: In response to directives from the Public Accounts Committee (PAC) of the parliament, the Federal Investigation Agency (FIA) has initiated an inquiry into the purported corruption and money laundering associated with the Creek Marina project located in Karachi. Furthermore, steps are being taken to designate the proprietors of Meinhardt from Singapore on a blacklist.
Meinhardt Pakistan office provides a range of multi-disciplinary integrated engineering services. These services encompass town planning, architecture, interior design, civil, structural, electrical, mechanical, plumbing, water supply, transportation, and related disciplines.
PAC Raises Concerns Over Corruption in Creek Marina Project
During the recent meeting, PAC Chairman Noor Alam informed the FIA director general. He discussed potential instances of corruption and money laundering within the Creek Marina project located in Karachi.
PAC Joint Secretary Aurangzeb issued a signed letter. This letter directed the FIA to conduct a comprehensive investigation into alleged corruption and fraud related to the Creek Marina project. The complaint originated from one of the many affected allottees, a person named Danish Ghazi.
The letter outlined that the PAC chairman had given specific instructions. These instructions involve looking into the matter thoroughly. If the company is found to have engaged in irregularities, the letter emphasized that it should be blacklisted as per the rules. Additionally, the company should promptly submit a comprehensive report to the PAC Secretariat.
The FIA is currently investigating allegations against Singaporeans Dr. Naseem Shehzad, his son Umar Shehzad, and other associates of the project. These allegations include defamation, banking fraud, and money laundering. The authorities have placed their names on the watch list.
Allegations of Extortion and Unfinished Construction
Danish’s application uncovers that despite allottees of the Creek Marina project having paid billions of rupees over the past 18 years, they have been left waiting. The company has sought additional funds from many of them, despite having undertaken no construction work. Additionally, the company has been using threats to pressure those who haven’t complied, hinting at the possibility of canceling their bookings.
Sources have reported that while Naseem and Umar were in Singapore, all employees of Creek Marina and Meinhardt took the initiative to lock their offices and vanish.
The accusation against Naseem and his son involves the extortion of billions of rupees from individuals, also with claims of collusion with bank staff to establish a fraudulent account.
Furthermore, allegations suggest that they transferred over Rs3 billion out of Pakistan through the residential project, Creek Marina, situated in Defence Phase VIII.
Complainants brought their grievances to the FIA, asserting that they had made complete payments over a span of 18 years for apartments in the Creek Marina project.
However, Meinhardt Singapore failed to finish the construction and deliver the promised flats. The victims took their concerns to the PAC as well.
The FIA’s investigation has confirmed that Meinhardt Singapore profited in the billions from individuals through this project.
In the complaint submitted to the PAC, Danesh Ghazi, one of the affected allottees, testified that he had invested in a Rs25 million apartment. Over four years, he contributed Rs18.6 million, which accounted for approximately 60% of the total cost.
Despite the builders’ inability to progress with the project, they demanded additional funds, leading to the cancellation of bookings for numerous allottees, including Ghazi.
It also important to highlight that in 2004, Umar Shahzad, a Pakistani national representing Meinhardt, engaged with the Defence Housing Authority, Karachi, to lease 92,000 square feet of land in Phase VIII.
This land’s present valuation stands at Rs46 billion. According to the agreement established, Meinhardt formed Creek Marina Private Limited.
Within this framework, the Singaporean entity Meinhardt Singapore Pte held responsibility for constructing and marketing luxury flats on the designated DHA land. The agreement stipulated that DHA would receive 15% of the covered area.
