The National Accountability Bureau (NAB) on Monday claimed that it had sealed “numerous” commercial and residential properties of the owner of Bahria Town, Malik Riaz, across the country for “defrauding people of billions of rupees.”
The accountability watchdog issued a press release on Monday, stating that it “once again informs the public that several cases of fraud and deception against Malik Riaz Ahmed, owner of Bahria Town, and others are currently under investigation.”
In January 2025, following the conviction of former premier Imran Khan and his wife Bushra Bibi in the 190 million pound case, NAB cautioned the public against investing in Bahria Town’s new real estate project in Dubai, emphasising that the government was reaching out to the United Arab Emirates (UAE) to seek Riaz’s extradition through legal avenues.
NAB had earlier also alleged that the property tycoon was developing housing societies under the name of Bahria Town “in a duplicitous manner” in other cities, including Peshawar and Jamshoro, by “illegally possessing/occupying land” and failing to procure the same mandatory regulatory permissions and legal documents.
NAB on Monday further claimed that multiple cases had been filed against Riaz along with others in accountability courts in Karachi and Islamabad, and the courts have summoned them all.
The accountability watchdog said, “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.”
“In recent actions related to this, 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.”
Furthermore, claiming that hundreds of bank accounts and vehicles in Bahria Town have been frozen, the anti-corruption watchdog said, “NAB will continue its legal actions against Bahria Town Pakistan without any delay or pressure to protect the rights of the citizens of Pakistan fully.”
“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 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,” it added.
