ISLAMABAD – National Accountability Bureau, Capital Development Authority, local police on Tuesday conducted raid on the office of property tycoon Malik Raiz’s Bahria Town in Rawalpindi.
The officials of the country’s anti-graft watchdog conducted a joint operation to seize some documents from Bahria Town’s office related to the Al Qadir Trust case. NAB spokesperson declined to comment on the raid and said details would be released later.
The raid was conducted days after Malik Riaz said he would not yield to any pressure tactics, asserting that he had faced pressure to compromise.
Pakistani court directed the transfer of Rs65 billion to the Central and Sindh governments, including funds remitted from the UK by Bahria Town and locally deposited money. The Rs35 billion allocated for the federal government was remitted from abroad in 2019 after a UK court unfroze a bank account belonging to the Malik Riaz family.
These funds were linked to a case involving £190 million being investigated by the National Accountability Bureau (NAB). Malik Riaz’s name came up in the £190 million case against former Prime Minister Imran Khan.
Malik Riaz however denied taking any political sides or being manipulated by any party. He claimed to have faced recurring victimization for introducing state-of-the-art projects in Pakistan since 1996.
Trading company linked with Malik Riaz’s Bahria Town under Investigation for ‘money laundering’
