ISLAMABAD: Intensifying its crackdown on Malik Riaz, the National Accountability Bureau (NAB) on Monday claimed to have sealed “numerous” commercial and residential properties and frozen hundreds of bank accounts of the property tycoon across the country in connection with corruption cases against him, including the £190 million Al-Qadir Trust reference.
“In recent actions, numerous commercial and residential properties of Bahria Town in Karachi, Lahore, Takht Pari, New Murree/Golf City, and Islamabad have been sealed, including multi-story commercial buildings,” said an official press release issued by the NAB headquarters.
Additionally, it added, hundreds of bank accounts had been frozen, and vehicles belonging to Bahria Town seized, with further actions underway. “NAB will continue its legal actions against Bahria Town Pakistan without any delay or pressure to fully protect the rights of the citizens of Pakistan,” the anti-corruption watchdog said.
On Jan 21, NAB warned the public against investing in Bahria Town’s Dubai project and said it was seeking Malik Riaz’s extradition. Later, NAB began extradition efforts for the property tycoon 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 the transfer of land to Bahria Town.
The watchdog also filed two corruption references regarding illegal land occupation in Rakh Takht Pari and New Murree.
NAB said in its press release that it “once again informed the public that several cases of fraud and deception against Malik Riaz Ahmed, owner of Bahria Town, and others are currently under investigation”.
The premier anti-corruption body stated that it had filed multiple references against Malik Riaz and others in accountability courts in Karachi and Islamabad, which have summoned all the accused.
“In these cases, there are allegations and irrefutable evidence against Malik Riaz Ahmed and his associates for illegally occupying not only the government but also private land in 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.
“Malik Riaz Ahmed, who is currently residing in Dubai as a court absconder in the NCA [UK’s National Crime Agency] case, has recently launched a new project of construction of luxury apartments there,” it added.
“NAB has prima facie evidence that certain individuals from Pakistan are criminally aiding Malik Riaz Ahmed in this process by transferring their money to Dubai for investment in this project,” it said. “Since NAB has also strong evidence of money laundering against Malik Riaz Ahmed and his associates, these funds have been sent to foreign countries through illegal means. Any funds transferred from Pakistan for this project will be considered money laundering, and legal action will be taken against the involved elements without discrimination,” the press release read.
“The public is informed to avoid any attractive inducements from Bahria Town and to protect their hard-earned savings,” it added.
Published in Dawn, March 18th, 2025