ISLAMABAD: The National Accountability Bureau (NAB) is reported to have confirmed that contractor Muhammad Ayub, a central figure in the Rs.40 billion Kohistan development scam, has struck a plea bargain agreement worth Rs.4 billion. The deal, which is pending court approval, involves Ayub surrendering all his assets to the state in exchange for reduced legal consequences.
The investigation, it may be recalled, was launched in mid-2025, uncovering a massive embezzlement scheme involving fake development projects, fraudulent tender processes, shell companies, and suspicious treasury cheques in Upper Kohistan.
NAB has frozen or seized assets valued at over Rs25 billion, including properties, vehicles, cash, and gold. Ayub, who was arrested in July 2025, is accused of acting as a “shell contractor” — his company received over Rs3 billion in fraudulent payments for non-existent projects. His assets, including a 10-kanal residence in Abbottabad purchased from PTI leader Azam Swati for Rs.550 million, were already frozen.
Currently, 36 suspects are in custody, including officials, bankers, and contractors.
Ayub has signed legal documents agreeing to return all assets, and he is expected to appear in court shortly to formalize the recovery process. His wife, Qaiser Iqbal, has been released on bail. Two dumper drivers, Mumtaz and Riaz, also involved in the scandal, have secured their own plea bargains, with one driver’s Rs4 billion agreement already approved by the court.
MM News has learnt that the probe continues to examine potential links to senior KP government officials, adding political dimensions to the case. NAB officials stated that the plea bargain is a significant step toward recovering misappropriated public funds and ensuring accountability.
