The National Accountability Bureau (NAB) has distributed Rs3.7 billion among more than 17,000 victims of the notorious B4U investment fraud — one of Pakistan’s biggest online Ponzi schemes.
The cheques were handed out at a ceremony in Islamabad on Thursday, where NAB Chairman Lt. Gen (R) Nazir Ahmed pledged that every single victim would eventually get back their money.
How the Scam Worked
The B4U network, led by Saif-ur-Rehman and his partners, lured people in with the promise of a guaranteed 7% monthly return. Using shell companies, the operators collected billions before the scheme collapsed.
Complaints from victims and alerts from the Securities and Exchange Commission of Pakistan (SECP) triggered a NAB investigation in early 2021. Investigators froze dozens of bank accounts, seized properties, and used digital data to verify claims.
Recovery and First Phase of Payments
So far, NAB has recovered around Rs7.3 billion, half of which is being distributed in this first phase. Out of 17,500 victims, nearly 10,000 are receiving full compensation immediately, while another 7,500 will get 40% now and the remainder within six months once the liquidation of assets is completed.
Chairman Nazir Ahmed stressed that NAB’s goal is to return the entire stolen sum, warning the public to be cautious of “too good to be true” investment offers.
Moving Toward Direct Bank Transfers
To avoid long waits and office visits in the future, NAB announced that upcoming payments will be transferred directly into victims’ bank accounts. The Rawalpindi/Islamabad NAB team, which spearheaded the recovery, was commended for its efforts and even offered an Umrah package as a reward.
Relief for Victims
For many who had written off their losses, the payout brought a sense of relief. Victims at the ceremony expressed gratitude, saying they had not expected to see their money again.
The case serves as a reminder of the risks of unregulated investment schemes and highlights the importance of financial vigilance in a country where such scams continue to surface.
