NAB seals Malik Riaz's properties over financial allegations

Malik Riaz, a well-known property developer in Pakistan, is facing significant legal troubles. The National Accountability Bureau (NAB) has taken strong action against him, including freezing bank accounts and sealing properties linked to his projects in Bahria Town. On Monday, NAB announced that it had sealed many commercial and residential properties owned by Riaz across various cities, such as Karachi, Lahore, and Islamabad. This move follows ongoing corruption investigations against him. Previously, in January, NAB had warned the public not to invest in Riaz's new project in Dubai. NAB is also seeking to extradite Riaz from the United Arab Emirates. The agency has frozen hundreds of his bank accounts and confiscated vehicles related to Bahria Town, citing a need to protect citizens from alleged fraud. The NAB claims there are multiple cases of financial mismanagement, land fraud, and money laundering involving Bahria Town. They have gathered evidence that suggests funds may be moved abroad to support Riaz's real estate business. Despite the allegations, Malik Riaz has consistently denied any wrongdoing. NAB stated that its investigations are supported by strong evidence. The bureau has filed several cases against him in accountability courts, where he is required to respond to the charges. According to NAB, the allegations include illegally occupying both government and private land and defrauding people of billions of rupees. The legal actions aimed to hold Riaz and his associates accountable for their actions in developing housing societies without proper permissions.