Govt to approach UAE for Malik Riaz’s extradition
21 January, 2025 22:14
The National Accountability Bureau (NAB) issued a warning to the public on Tuesday, advising against investing in Bahria Town’s new luxury real estate project in Dubai.
The bureau cautioned that such investments could result in money laundering charges, leading to criminal or legal proceedings. NAB’s statement comes as the government pursues the extradition of property tycoon Malik Riaz from the United Arab Emirates (UAE) through legal channels.
Riaz is currently a fugitive in the Al-Qadir Trust case, in which he and his son are co-accused.
The bureau is also investigating Riaz and his associates for fraudulent land dealings in several Pakistani cities, including Karachi, Rawalpindi, and Peshawar.
NAB highlighted that Riaz and Bahria Town have been accused of occupying state and private land illegally, developing housing societies without necessary regulatory approvals, and defrauding the public.
The watchdog has already frozen numerous assets linked to Riaz and Bahria Town.
Despite facing numerous legal challenges, including a Supreme Court order to pay the Sindh government for land acquisition, Riaz has not publicly responded to NAB’s latest statement.
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