Islamabad: The National Accountability Bureau (NAB) has announced that it has reached a plea bargain with the accused in the AAA Associates fraud case, which officials describe as the largest settlement of its kind in Rawalpindi’s NAB history.
The case, dating back to investments made between 2020 and 2023, involved promises of commercial projects that never materialized. According to NAB, the company collected huge sums from thousands of people, resulting in losses estimated at Rs 12.7 billion.
NAB confirmed that the agreement was reached with company CEO Sheikh Fawad Bashir and Managing Director Shehzad Ali Kayani. The bureau claims that the recovered funds will be returned to victims and that all concerns raised during the process have been addressed.
It is worth noting that the victims had previously challenged the plea bargain in the Lahore High Court, which issued a stay order last year. Despite this, NAB has now published details of the final settlement on its official website, insisting that the recovery process has been completed and victims’ grievances resolved.
Officials say the deal marks a significant step in accountability and provides long‑awaited relief to thousands of investors who suffered financial losses in the AAA Associates scandal.