Islamabad: The National Accountability Bureau (NAB) of Pakistan has issued a cautionary statement against investing in Bahria Town Dubai, a project owned by prominent businessman Malik Riaz. NAB has stated that Malik Riaz, along with others, is under investigation for alleged fraudulent activities. It warned that investments in the project may amount to money laundering or illegal transfer of funds.
NAB further revealed that the Government of Pakistan is in communication with UAE authorities to extradite Malik Riaz, who has been declared a fugitive in multiple cases, including the £190 million case.
Federal Minister for Information, Atta Tarar, disclosed that several cases against Malik Riaz and his son are ongoing, involving bribery, land grabbing, and other serious charges.
In response to NAB’s January 21 press release, Malik Riaz took to his social media platform, claiming that the statement was an attempt to blackmail him. He reiterated that he would not testify or be used against anyone. He added, “My decision yesterday is the same today: no matter how much oppression you inflict, Malik Riaz will not testify.”
NAB alleged that Malik Riaz has illegally occupied government and private lands in Karachi, Rawalpindi, Peshawar, and Jamshoro. It affirmed that it has substantial evidence to support its claims.
Malik Riaz has been declared an absconder in the Al-Qadir Trust and £190 million cases. The court has ordered the confiscation of his properties.
