Daily Times

The National Accountability Bureau (NAB) has sealed numerous commercial and residential properties of property tycoon Malik Riaz across Pakistan. The anti-corruption watchdog is investigating multiple fraud cases against him and has warned the public against investing in Bahria Town’s Dubai project. Authorities are also working on his extradition from the UAE to face trial in Pakistan.

NAB has filed corruption references against Riaz, his son, and former government officials, including ex-chief ministers Syed Qaim Ali Shah and Chaudhry Parvez Elahi. These cases involve the illegal transfer of government land in Karachi, Rawalpindi’s Takht Pari, and New Murree. Courts in Karachi and Islamabad have summoned Riaz and his associates over allegations of fraud, land grabbing, and unauthorized housing projects.

In recent actions, NAB has frozen hundreds of bank accounts and vehicles linked to Bahria Town. It also claims to have strong evidence of money laundering against Riaz and his associates. Officials warn that any Pakistani investments in Bahria Town Dubai will be considered illegal, and legal action will be taken against those involved in transferring funds abroad.

NAB has vowed to continue legal actions against Riaz without any delay or external pressure. The agency, in collaboration with other government bodies, is intensifying efforts to bring him back to Pakistan. Authorities urge citizens to avoid fraudulent investment offers and safeguard their hard-earned money.