NAB Decides to Auction Bahria Town Properties, Advertisement for Auction Released
ISLAMABAD ( WEB NEWS )
The National Accountability Bureau (NAB) has decided to auction properties belonging to Bahria Town, and has issued a public advertisement for the auction. The auction includes six properties owned by Bahria Town’s founder and chairman Malik Riaz.
According to NAB, five properties located in Rawalpindi and one in Islamabad will be auctioned. The Bureau stated that these properties are being auctioned to recover the defaulted amount from a plea bargain agreement.
NAB announced that the auction will take place on June 12 at NAB Rawalpindi office.
The advertisement lists the properties up for auction, which include:
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Corporate Office 1, Plot No. 7E, Park Road, Bahria Town Phase 11, Rawalpindi
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Corporate Office 11, Plot No. 70, Park Road, Mughal Bataan, Phase 1, Rawalpindi
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Ropesh Marquee and Lawn, located near Bahria Garden City Golf Course, Bahria Town, Islamabad
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Arena Cinema, Plot No. 984-Board-A, Bahria Town Phase 4, Rawalpindi
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Bahria Town International Academy (School Building) on Jasmine and Silver Oaks Road, Safari Villas 2, Bahria Town, Rawalpindi
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Safari Club, Plot No. 27, Safari Villas 1, Bahria Town, Rawalpindi
It is worth mentioning that earlier this year in March, NAB had sealed various high-rise residential and commercial properties in Bahria Town Karachi, Lahore, Takht Pari, New Murree Golf City, and Islamabad.
NAB had taken action against Malik Riaz and other individuals in connection with ongoing investigations into fraud cases. In this regard, hundreds of bank accounts of Bahria Town were frozen, and dozens of vehicles were also seized.
NAB officials stated that certain elements were transferring funds to Malik Riaz’s Dubai project, which prompted the launch of efforts to bring Malik Riaz back from abroad.
In a public notice, NAB reiterated that as the national accountability authority, it is fulfilling its mandate and informing the public that multiple fraud cases against Malik Riaz Ahmed and others are under investigation.
Furthermore, multiple references have been filed against these individuals in the accountability courts of Islamabad and Karachi, and the courts have summoned all the accused.
NAB stated that the cases involve illegal occupation of both government and private lands under the name of Bahria Town in Karachi, Takht Pari Rawalpindi, and New Murree, and the unauthorized development of housing schemes, defrauding the public of billions of rupees, with irrefutable evidence available.
Additionally, NAB warned the public to avoid investing in Malik Riaz’s Dubai project, cautioning that anyone investing in his Dubai apartments would face action under anti-money laundering laws.
The official statement emphasized that fraud and deception cases against Malik Riaz are under investigation, and NAB has strong evidence showing he and his associates illegally occupied land in Peshawar, Jamshoro, and several other cities, establishing unauthorized housing societies and extorting large sums of money from the public.
NAB also revealed that Malik Riaz is a fugitive in a case being investigated by the UK’s National Crime Agency, and he is wanted by both NAB and the courts.