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NAB Seals Malik Riaz’s Properties, Freezes Bahria Town Assets
NAB seals Malik Riaz’s properties in Karachi, Lahore, and Islamabad amid corruption cases. Bahria Town’s bank accounts frozen; extradition efforts begin. Public warned against investing in his Dubai project.
ND
by News Desk
2025-03-17
NAB Seals Malik Riaz’s Properties, Freezes Bahria Town Assets

The National Accountability Bureau (NAB) has sealed multiple commercial and residential properties belonging to property tycoon Malik Riaz across Pakistan in connection with ongoing corruption cases, the watchdog confirmed on Monday.

This development comes as part of a broader crackdown against Bahria Town and its leadership, with NAB also freezing the company’s bank accounts and vehicles.

Extradition Efforts Underway

NAB’s press release reiterated its stance against Malik Riaz and Bahria Town, stating:

“Several cases of fraud and deception against Malik Riaz Ahmed and others are under investigation.”

The agency had earlier warned the public against investing in Bahria Town’s Dubai project and is actively pursuing Riaz’s extradition from the UAE.

In February, NAB filed corruption references against Malik Riaz, former Sindh Chief Minister Syed Qaim Ali Shah, Minister Sharjeel Memon, and others over illegal land transfers to Bahria Town. Additional cases involve illegal land occupation in Rakh Takht Pari and New Murree.

Sealed Properties and Frozen Assets

According to NAB, Bahria Town’s properties sealed in recent actions include:

  • Multi-story commercial buildings in Karachi, Lahore, Takht Pari (Rawalpindi), New Murree/Golf City, and Islamabad.
  • Hundreds of bank accounts and vehicles belonging to Bahria Town have also been frozen.

The agency emphasized that these measures are part of its legal efforts to protect citizens' rights and ensure accountability.

Money Laundering Allegations & Dubai Project

NAB’s statement also linked Riaz to alleged money laundering, stating:

“There is prima facie evidence that certain individuals from Pakistan are criminally aiding Malik Riaz Ahmed by transferring money to Dubai for investment in his luxury apartment project.”

The watchdog warned that any funds sent from Pakistan to this project would be considered money laundering, and legal action would be taken against those involved.

Public Warning & Future Actions

NAB urged citizens to avoid investing in Bahria Town projects, particularly its Dubai venture, citing strong evidence of fraud and illegal financial transactions.

The agency reaffirmed its commitment to bringing Malik Riaz back to Pakistan, working with other government institutions to ensure he faces justice.
Tagged:

NAB

corruption

Accountability

MalikRiaz

BahriaTown
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