Pakistan

Creek Marina Saga: Singaporean National Lures Pakistanis Again After Depriving Them of Millions By Way of Real Estate Fraud

KARACHI: A Singaporean national has started to lure well-off Pakistanis again by way of enticing the general public to invest their life savings in a project which failed to materialize in the past, rendering the citizens to suffer for more than 13 years.

BACKGROUND: Hundreds of investors were attracted to the Creek Marina Project when it was first launched as Multi-billion rupee venture in 2004. Soon the general public found out that the  project was one of the biggest real estate scams in the country as it failed to get their invested dream homes by the due time in 2009.

Like anywhere else in the world, people have the right to dream, work hard and desire a lavish lifestyle. They have safe options for investing in grand projects knowing well that their investments would be well protected by the developer and if not the developer, the state. However, this isn’t the case in Pakistan, as it is easy to make fools of general public especially so if the developer  is a foreigner like Meinhardt.

Recent allegations which have made rounds and rounds across print and social media claim that Dr. Shahzad Nasim, a high roller in Pakistan, with considerable influence and esteem, is again developing the project without basic and fundamental compliance of the law and building regulations.

Court documents available with the Regional Telegraph suggest that the project has not received necessary permission from building authorities and environmental agencies. More importantly it has been alleged that the land on which the project is to be constructed was granted in an irregular manner.

It is pertinent to mention here that the CEO of Meinhardt Singapore, Dr. Shahzad Nasim, is a Singaporean citizen of Pakistani Origin, who can easily fly to Karachi, and fly back, despite being declared as absconder by the court for his fraudulent activities, this proving his sheer arrogance and daring as he loots the life savings of the average citizen and easily fly back without question.

Hundreds of families continue to suffer in silence as the fraudster like Shahzad  Nasim is further emboldened to commit more crimes and exploit the citizens. The victims have asked as to till when the building mafia would continue to plunder the hard earned savings of Pakistani families? Till when will the authorities ignore the crimes of such individuals?

A large number of victims who continue to suffer due to previous fraud of Shahzad Nasim have approached news reporters, saying that around Fifteen years have lapsed and the investors in the Creek Marina Project are still waiting for the completion and delivery of the project. The project was supposed to be completed by December, 2009.

These days, Meinhardt again commits to fulfill its 15 year old promise of developing the project. With the help of expensive PR and marketing consultants Shehzad Nasim is again enticing the general public to invest their life savings in a project that no guarantee of execution.

The victims have urged upon the Supreme Court that if justice is to be served without any further delay, the apex court should immediately take notice, as the CEO, Meinhardt is again in Karachi and trying to hoodwink the investors and aiming to collect massive funds.

They have appealed to the concerned authorities and the courts of Pakistan that the construction firm, Meinhardt be made to provide proper security against development works so that those who invest in the project remain protected.

They have demanded to hold Dr. Shahzad Nasim and his partners accountable, put their names on Exit Control Lists and shouldn’t be allowed to travel out Pakistan without hedging the project or completing it.

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