LAHORE - An accountability court on Friday extended till January 3 the physical remand of Paragon City Director Qaiser Amin Butt already granted to National Accountability Bureau (NAB) in Paragon Housing Society scam.

Butt is accused of the commission of offences of corruption and corrupt practices with connivance of co-accused Nadeem Zia and others in Paragon City (Pvt) Limited. He was arrested by NAB on November 14, 2018 in the case. Later he became an approver against ex-Railways minister Khawaja Saad Rafique.

During the hearing, NAB Prosecutor Waris Janjua requested the accountability court to extend the accused’s remand. He was arrested on the charges of launching an illegal housing scheme known as “Paragon City (Pvt) Ltd with collusion of Nadeem Zia and others in 2005. He is accused of launching the project on the basis of forged and fabricated documents. They committed the corruption in collusion with the officials of the TMA Aziz Bhatti Town, Lahore.

He stated before Judicial Magistrate Ahmad Raza on November 26 that he had joined the real estate business with PML-N leader Khawaja Saad Rafique in 2002.

He said that he was introduced to Nadeem Zia by Saad Rafique, the former Railways minister.

In his statement before the court, he admitted that he had 50 percent shares in the business in 2006 but later Nadeem Zia became shareholder of 92 percent of the total assets. He said that he was illegally deprived of his shares despite that the fact he had 50 percent partnership in the business.