A major development has emerged in the multi-billion-rupee scam involving the Palm Vista Housing case. The main suspect has been arrested in the United Arab Emirates after an international operation. The arrest was made through coordination between Pakistani authorities and Interpol.
Officials confirmed that Muhammad Qasim Khan was arrested in Abu Dhabi. He was wanted by the National Accountability Bureau in Lahore. A red notice had already been issued through Interpol for his arrest.
Authorities said extradition documents have now been requested through diplomatic channels. The process will determine his return to Pakistan. Officials say legal proceedings will continue after his transfer.
The case is linked to a large multi-billion-rupee scam involving fraudulent housing investments. According to investigators, hundreds of citizens were affected. Victims were allegedly misled through fake plot sales and false investment promises.
NAB Lahore reported that around 295 people lost their savings in the scheme. The total financial loss is estimated to exceed 1.4 billion rupees. The accused and his associates allegedly ran illegal property operations across a housing project.
Officials said plots were oversold in a housing society spread over 205 kanals. Investigators also found signs of a Ponzi-style investment structure. The system promised unrealistic returns on housing investments.
Many victims have been waiting for nearly two years to recover their money. They have urged authorities to speed up justice in the multi-billion-rupee scam. Families say the financial losses have caused severe hardship.
Earlier in the case, two directors of the housing scheme, Mahmoud Tariq and Amer Azeem, were also arrested. However, the main suspect was believed to be operating from abroad before his capture.
The National Accountability Bureau said the investigation is part of a wider crackdown. It targets illegal housing societies and investment fraud across Punjab.
Officials added that more arrests may follow as the investigation expands. They are also tracking additional financial links connected to the case.
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The arrest is seen as a key breakthrough in the multi-billion-rupee scam investigation. Authorities say further legal steps will begin once extradition procedures are completed.
