The National Accountability Bureau is investigating Malik Riaz Ahmed, the proprietor of Bahria Town, and his friends for multiple instances of fraud, deception, and unlawful property acquisition.
NAB prosecutors have submitted several references before the Islamabad and Karachi Courts, which have issued summons to the defendants.
A spokesperson stated that NAB possesses evidence of unlawful appropriation of government and private lands in Karachi, Takht Padi, Rawalpindi, and New Murree, in addition to defrauding citizens of billions of rupees through the establishment of unauthorized housing societies named Bahria Town and Bahria Enclave.
He stated that NAB has confiscated many Bahria Town properties in Karachi, Lahore, and Islamabad, and has blocked hundreds of bank accounts and cars associated with Bahria Town.
The bureau stated it possesses proof of Pakistani citizens facilitating the flow of funds to Bahria Town’s Dubai project and cautioned that any payments from Pakistan associated with the project will be regarded as money laundering, with legal action to be pursued against individuals implicated.
The NAB has advised the public against investing in Bahria Town. The agency is collaborating with other governmental entities to repatriate the accused to Pakistan.
