Pakistan’s National Accountability Bureau (NAB) has launched a massive crackdown on property tycoon Malik Riaz, sealing a wide array of commercial and residential properties linked to him across the country. The move comes as part of an ongoing investigation into multiple corruption cases involving illegal land acquisitions, fraud, and money laundering.
In a bold statement, NAB revealed that it has frozen hundreds of bank accounts and vehicles associated with Bahria Town, Riaz’s flagship real estate venture. The anti-corruption body also confirmed that multi-story commercial buildings in Karachi, Lahore, Rawalpindi, and Islamabad have been sealed, signalling a no-tolerance approach to alleged financial crimes.
Property tycoon under legal trouble for building unauthorized housing societies
The investigation has uncovered what NAB describes as “irrefutable evidence” of illegal land occupation in key areas, including Rakh Takht Pari and New Murree. According to the watchdog, Riaz and his associates allegedly defrauded citizens of billions of rupees by establishing unauthorized housing societies and unlawfully acquiring both government and private land.
Adding to the drama, NAB has issued a stern warning to the public, urging them to steer clear of Bahria Town’s latest luxury apartment project in Dubai. The bureau claims that funds for this venture are being funnelled from Pakistan through illicit means, with strong evidence of money laundering. “Any investment in this project will be treated as aiding money laundering, and legal action will follow,” NAB stated.
Malik Riaz, currently residing in Dubai, is also wanted in a high-profile case by the UK’s National Crime Agency (NCA). NAB has intensified efforts to extradite him and his son to face justice in Pakistan. The bureau has vowed to continue its pursuit of the accused, promising to uphold the rule of law without succumbing to external pressures.
In a final appeal, NAB urged citizens to remain vigilant and avoid falling prey to enticing investment schemes that could jeopardize their hard-earned savings.
Also, see:
What Happens to Your Body If You Eat Dates Daily for 30 Days?
