Daily Times

The accountability court has acquitted property tycoon Malik Riaz’s son in law Zain Malik in 6 cases related to fake accounts.

It should be noted that the acquittal was approved after Zain Malik promised to pay Rs9.5 billion in a plea bargain in 6 cases related to fake accounts.

The National Accountability Bureau (NAB) has submitted the payment schedule 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.

It may be recalled that during the hearing in the court, Zain Malik participated from the

Notably, Zain Malik is accused in the case of Pink Residency, illegal allotment and fake accounts of mega-money laundering.