KARACHI – Corruption investigation deepens as National Accountability Bureau NAB freezes over a thousand commercial properties of Bahria Town Karachi.
The top anti-graft watchdog National Accountability Bureau (NAB) Sindh taken a major step in ongoing investigation against the real estate giant, freezing all of its commercial properties. The action follows allegations of land encroachment and corruption involving top officials from real estate giant.
In an official letter, DG NAB Sindh Javed Riaz confirmed freezing of 1,000 commercial plots owned by Bahria Town Karachi. NAB officials claimed to gather substantial evidence pointing to illegal land occupation beyond the initially allocated property.
Several people including Malik Riaz, Ahmed Ali Riaz, Faisal Qureshi, Muhammad Owais, Zain Malik, Shahid Qureshi, Waseem Rifat, and Waqas Rifat are facing charges of corruption. The influential property tycoon and his associates illegally acquired thousands of acres of land in Malir district through unlawful collaboration withthe Malir Development Authority.
Last month, the National Accountability Bureau (NAB) warned the public against investing in Bahria Town’s new luxury real estate project in Dubai, citing ongoing investigations against Malik Riaz for fraud and deceptive practices.
The anti-graft body is working with Gulf authorities to seek Riaz’s extradition, as he is wanted in the Al-Qadir Trust case. The bureau also revealed that Riaz and his associates have unlawfully occupied land in multiple cities, developing housing societies without required approvals, leading to significant financial fraud. Riaz responded, calling the allegations baseless and accusing NAB of blackmail, while expressing confidence in the success of the Dubai project.
