The National Accountability Bureau (NAB) has started distributing Rs 3.7 billion to the victims of the multi-billion-rupee B4U fraud, marking the first phase of a larger Rs 7.3 billion recovery effort. The B4U scam, one of Pakistan’s largest financial crimes, was operated by Saif-ur-Rehman and his associates through shell companies, functioning as an online Ponzi scheme that promised a 7% monthly return to investors.
The scheme ultimately collapsed after collecting billions of rupees from unsuspecting citizens. NAB launched an investigation into the fraud on February 5, 2021, following numerous complaints from victims and the Securities and Exchange Commission of Pakistan (SECP). As part of its investigation, NAB traced and froze 56 bank accounts and properties linked to the accused, while digital data was analyzed to verify victims’ claims.
In the first phase of the recovery, NAB is distributing Rs 3.7 billion to 17,500 victims. Of these, around 10,000 individuals will receive their full investment, while the remaining 7,500 victims will initially receive 40% of their claims. The balance will be paid within six months after the disposal of seized properties.
NAB Chairman Lt. Gen. (Retd.) Nazir Ahmed reiterated the bureau’s commitment to recovering 100% of the looted funds and returning them to the victims. He also advised the public to thoroughly investigate investment opportunities before committing their savings.
Victims have expressed gratitude for the recovery process, noting that they had lost hope of recovering their hard-earned money until NAB’s intervention led to the initiation of the recovery.
