ISLAMABAD: Pakistan’s National Accountability Bureau (NAB) on Monday announced that it had sealed “numerous” commercial and residential properties belonging to property tycoon Malik Riaz across the country in connection with corruption cases filed against him.
On 21 January, the accountability watchdog warned the public against investing in Bahria Town’s Dubai project and stated that it was seeking Riaz’s extradition.
Later, NAB initiated extradition efforts for Malik Riaz and his son.
In February, NAB filed a reference against Malik Riaz, former Sindh Chief Minister Syed Qaim Ali Shah, Minister Sharjeel Memon, and others over land transfers to Bahria Town.
The watchdog also filed two corruption references concerning illegal land occupation in Rakh Takht Pari and New Murree.
In a press release issued today, NAB reiterated that “several cases of fraud and deception against Malik Riaz Ahmed, owner of Bahria Town, and others are currently under investigation.”
It further stated that multiple references against Malik Riaz and his associates had been filed in accountability courts in Karachi and Islamabad, and the courts had summoned them.
“These cases contain allegations and irrefutable evidence against Malik Riaz Ahmed and his associates for illegally occupying both government and private land under the name of Bahria Town in Karachi, Takht Pari (Rawalpindi), and New Murree, establishing housing societies without permission, and defrauding people of billions of rupees,” NAB stated.
NAB has sealed numerous commercial and residential properties of Bahria Town in Karachi, Lahore, Takht Pari, New Murree/Golf City, and Islamabad, including multi-storey commercial buildings.
Additionally, hundreds of Bahria Town’s bank accounts and vehicles have been frozen, with further actions underway.
“NAB will continue its legal actions against Bahria Town Pakistan without delay or external pressure to fully protect the rights of Pakistani citizens,” the anti-corruption watchdog stated.
Malik Riaz, currently residing in Dubai as a court absconder in the UK’s National Crime Agency (NCA) case, has recently launched a new project for luxury apartment construction there, NAB said.
“NAB has prima facie evidence that certain individuals in Pakistan are criminally aiding Malik Riaz Ahmed by transferring money to Dubai for investment in this project. Since there is strong evidence of money laundering against Malik Riaz Ahmed and his associates, these funds have been transferred abroad through illegal means. Any funds sent from Pakistan for this project will be considered money laundering, and legal action will be taken against those involved without discrimination,” the press release read.
The public has been advised to avoid any attractive inducements from Bahria Town and safeguard their hard-earned savings.
NAB also stated that, in collaboration with other government agencies, it has launched vigorous efforts to bring the fugitive accused back to Pakistan to face justice.
