The National Accountability Bureau (NAB) announced on Monday that it has sealed multiple commercial and residential properties belonging to property tycoon Malik Riaz across the country in connection with corruption cases filed against him. This action follows ongoing investigations into allegations of fraud and illegal land acquisitions linked to Riaz and his real estate venture, Bahria Town.
Earlier, on January 21, NAB had issued a public warning against investing in Bahria Town’s Dubai project and revealed that it was pursuing Riaz’s extradition. Subsequently, the anti-corruption watchdog initiated extradition proceedings for Riaz and his son. In February, NAB filed a reference against Riaz, former Sindh Chief Minister Syed Qaim Ali Shah, Minister Sharjeel Memon, and others for their alleged involvement in the illegal transfer of land to Bahria Town. Additionally, NAB filed two separate corruption references related to the unlawful occupation of land in Rakh Takht Pari and New Murree.
In a press release issued on Monday, NAB stated, “Several cases of fraud and deception against Malik Riaz Ahmed, owner of Bahria Town, and others are currently under investigation.” The bureau also confirmed that it has filed multiple references against Riaz and his associates in accountability courts in Karachi and Islamabad, with the courts summoning all accused individuals.
The press release highlighted that there is “irrefutable evidence” against Riaz and his associates for allegedly occupying government and private land illegally under the guise of Bahria Town projects in Karachi, Rawalpindi’s Takht Pari, and New Murree. The allegations include establishing housing societies without proper authorization and defrauding people of billions of rupees.
As part of its recent actions, NAB has sealed numerous commercial and residential properties owned by Bahria Town in Karachi, Lahore, Takht Pari, New Murree/Golf City, and Islamabad, including multi-story commercial buildings. Additionally, hundreds of bank accounts and vehicles associated with Bahria Town have been frozen. NAB emphasized that further actions are being expedited to address the ongoing investigations.
The anti-corruption body reiterated its commitment to pursuing legal actions against Bahria Town without delay or external pressure, stating, “NAB will continue its legal actions against Bahria Town Pakistan to fully protect the rights of the citizens of Pakistan.”
The press release also addressed Riaz’s current status, noting that he is residing in Dubai as a court absconder in the UK’s National Crime Agency (NCA) case. It revealed that Riaz has recently launched a new luxury apartment project in Dubai. NAB stated that it has prima facie evidence suggesting that certain individuals from Pakistan are aiding Riaz by transferring funds to Dubai for investment in this project.
NAB warned that any funds transferred from Pakistan for this project would be considered money laundering, and legal action would be taken against those involved. The bureau urged the public to avoid investing in Bahria Town’s projects, cautioning them to protect their hard-earned savings.
In conclusion, NAB affirmed its collaboration with other government agencies to intensify efforts to bring fugitive accused individuals, including Riaz, back to Pakistan to face justice. The bureau remains steadfast in its mission to hold accountable those involved in corruption and financial crimes.
