NAB Seals Malik Riaz’s Properties

KARACHI: NAB, that had warned public on 21st January, 2025 against buying properties in Malik Riaz’s Bahria Town Dubai project, has on Monday (17th March, 2025) sealed a number of his residential and commercial properties over corruption cases registered against him.

NAB informed the citoyens by means of Media that several cases of fraud and deception against Malik Riaz Ahmed, owner of Bahria Town, and others were currently under investigation.

“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…NAB will continue its legal actions against Bahria Town Pakistan without any delay or pressure to fully protect the rights of the citizens of Pakistan.

“Malik Riaz Ahmed, who is currently residing in Dubai as a court absconder in the NCA case, has recently launched a new project of construction of luxury apartments there…NAB has prima facie evidence that certain individuals from Pakistan are criminally aiding Malik Riaz Ahmed in this process by transferring their money to Dubai for investment in this project.

“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…

“The public is informed to avoid any attractive inducements from Bahria Town and to protect their hard-earned savings…NAB, in collaboration with other government agencies, has initiated vigorous efforts to bring back the fugitive accused to Pakistan so that such individuals can be brought to justice.”

Rags to Riches tycoon Malik Riaz, who is a co-accused and proclaimed absconder in the Al-Qadir Trust Case, in which PTI founder Imran Khan and his espouse had been incarcerated, responding to NAB’s 21st Jan statement, reiterated that he would not testify!

It may be recalled that NAB, informing that Govt was reaching out to UAE seeking extradition of Malik Riaz, warned the public that investing in Bahria Town’s new real estate project in Dubai would tantamount to money laundering.

NAB maintained: “Mr Malik Riaz is residing in Dubai, UAE. He has recently launched a project for the construction of luxury apartments in Dubai, UAE.

“The general public at large is hereby advised and warned to refrain from investing in the stated project. If the general public at large invests in the stated project, their actions would tantamount to money laundering, for which they may face criminal/ legal proceedings.“

Taking to the X, Malik Riaz insinuated that he was being blackmailed to testify against Imran Khan in Al-Qadir Trust Case: “This was my decision yesterday and this is my decision today, no matter how much you oppress me, Malik Riaz will not testify!”

“Doing business in Pakistan is not easy, despite obstacles at every step, 40 years of blood and sweat, by the grace of Allah, the first world-class housing Bahria Town was built in Pakistan. Allah game me perseverance, and I was able to keep the promises made to my members.

“Numerous impediments and official blackmailing sometimes created delays I fulfilling promises, but my Allah always helped me live up to my vision for my people. I want to mention it in clear terms that years of blackmailing, fake cases and greed of officers couldn’t deter me, but due to my principle stance of refusing to be a witness (political pawn), I had to move abroad.

“For a long time, people wanted the Pakistan brand to me made world-class brand. Allah Almighty made me the reason for this and BT Properties has been started in Dubai.

“The secret of Dubai’s development is the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the absence of an institution like NAB.

“Today’s deplorable press release by NAB is actually a new demand of blackmail. I am resisting, but I’m still sitting with a storm in my heart. If this breaks, then everyone’s illusion will be put into reality. Let’s not forget that all the secrets of the last 25/30 years are safe with evidence.

“By the grace of Allah, Bahria Town Pakistan became the most successful project and now, by the grace of Allah, BT Properties Dubai will also be very successful.”

NAB, informing that Govt was reaching out to UAE seeking extradition of Malik Riaz, warned the public on Tuesday (21st Jan, 2024) that investing in Bahria Town’s new real estate project in Dubai would tantamount to money laundering.

Malik Riaz is a co-accused and proclaimed absconder in the Al-Qadir Trust Case, in which IK and BB had been incarcerated. NAB maintained: “Mr Malik Riaz is residing in Dubai, UAE. He has recently launched a project for the construction of luxury apartments in Dubai, UAE.

Newspakistan.tv

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career forty-five years ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.