On Tuesday, the National Accountability Bureau (NAB) issued a warning to the public regarding investments in Bahria Town’s new real estate project in Dubai, while also announcing that the government is working with the United Arab Emirates (UAE) to pursue the extradition of property mogul Malik Riaz through legal channels.
This development follows the recent conviction of PTI founder Imran Khan and his wife in the Al-Qadir Trust case, which also involves Riaz and his son as co-accused. Legal experts and PTI leaders have emphasized the need for accountability for all those implicated, and Information Minister Attaullah Tarar mentioned that discussions are ongoing regarding the return of other absconders.
In a press release shared by state-run media Radio Pakistan, NAB stated: “Malik Riaz is currently residing in Dubai, UAE, where he has launched a luxury apartment project. The public is strongly advised to refrain from investing in this project, as such actions could be linked to money laundering and result in criminal or legal consequences.”
The bureau confirmed that the government of Pakistan is working to seek Riaz’s extradition through the appropriate legal processes with the UAE.
NAB emphasized that Riaz is an absconder in the Al-Qadir Trust case and remains wanted by the court. The bureau has already frozen numerous assets tied to him and Bahria Town. It also disclosed that investigations are ongoing into the alleged fraudulent and deceptive practices conducted by Riaz and his associates, including cheating the public.
NAB detailed how Riaz and his accomplices have unlawfully acquired and occupied state and private lands in various locations, including Karachi, Takht-Pari, Rawalpindi, and New Murree. These lands are being used to develop housing societies without obtaining necessary regulatory approvals or permits, resulting in significant fraud against the state and the public.
The agency also accused Riaz of continuing to develop housing projects under the Bahria Town name in cities like Peshawar and Jamshoro, using similar illegal practices and failing to obtain the required legal documentation. Despite the lack of proper titles to the land, these projects continue to be marketed to the public.
Last May, Riaz posted a cryptic message expressing his frustration with political pressure and financial losses, vowing not to be exploited for political purposes. He has faced several legal issues related to land acquisition tactics in the past, and his firm has been embroiled in multiple court cases. Most recently, the Supreme Court ordered him to pay outstanding dues for land acquisitions related to Bahria Town Karachi.
