Malik Riaz’s son-in-law acquitted in six cases on Rs9.5bn plea bargain

Published August 25, 2020
The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court. — Photo courtesy NAB website/File
The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court. — Photo courtesy NAB website/File

ISLAMABAD: The accountability court here on Monday approved acquittal of Zain Malik, son-in-law of property tycoon Malik Riaz, in six cases pertaining to fake accounts after the suspect pledged to pay Rs9.5 billion in plea bargain.

The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court.

Accountability Court judge Mohammad Bashir took up applications of Mr Malik seeking acquittal in three under-trial cases and approved them.

Zain undertook to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in three years. He will pay the amount in instalments in three months’ interval.

Mr Malik joined the court’s proceeding through a video link from the UK.

When the judge asked the son-in-law of Malik Riaz whether he knew consequences of acquittal through the plea bargain, he replied in the affirmative.

The acquittal under the plea bargain did not absolve the accused from the case as the conviction stands despite acquittal.

Mr Malik is accused in the fake accounts cases of Pink Residency, Illegal Allotment and Mega Money Laundering.

He is also an accused in the Icon Tower case of Karachi. He has to formally plead in the accountability court in this case for acquittal under the plea bargain.

Published in Dawn, August 25th, 2020

Opinion

Editorial

Ties with Tehran
Updated 24 Apr, 2024

Ties with Tehran

Tomorrow, if ties between Washington and Beijing nosedive, and the US asks Pakistan to reconsider CPEC, will we comply?
Working together
24 Apr, 2024

Working together

PAKISTAN’S democracy seems adrift, and no one understands this better than our politicians. The system has gone...
Farmers’ anxiety
24 Apr, 2024

Farmers’ anxiety

WHEAT prices in Punjab have plummeted far below the minimum support price owing to a bumper harvest, reckless...
By-election trends
Updated 23 Apr, 2024

By-election trends

Unless the culture of violence and rigging is rooted out, the credibility of the electoral process in Pakistan will continue to remain under a cloud.
Privatising PIA
23 Apr, 2024

Privatising PIA

FINANCE Minister Muhammad Aurangzeb’s reaffirmation that the process of disinvestment of the loss-making national...
Suffering in captivity
23 Apr, 2024

Suffering in captivity

YET another animal — a lioness — is critically ill at the Karachi Zoo. The feline, emaciated and barely able to...