Malik Riaz assets frozen

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Staff Reporter

2 years ago

ISLAMABAD: A court has mandated that property tycoon Malik Riaz’s properties in Pakistan be frozen.

Judge Mohammed Bashir of the Accountability Court declared Malik Riaz and his son Ahmed Ali Riaz to be proclaimed offenders, and he directed the National Accountability Court (NAB) to seize the two of them’s belongings, bank accounts, and cars.

Malik Riaz and his son were ordered to appear before the Accountability Court, but they did not, which is why the court made a harsh ruling. The judge has ordered the NAB to seize the two proclaimed criminals’ cars, bank accounts, and assets.

The asset freeze is a thorough measure; in addition to directing the confiscation of properties, the court also ordered the freezing of bank accounts linked to the property tycoon and his son. In addition, NAB will seize the criminals’ automobiles.

Regarding the 190 million pounds Al-Qadir Trust scandal, the NAB had filed a reference in the accountability court against Imran Khan, the head of the Pakistan Tehreek-e-Insaf (PTI), who is currently in jail, and other parties.

In addition to the PTI chairman, the reference names seven additional accused parties, including Bushra Bibi, his wife, Farah Gogi, Shahzad Akbar, Barrister Zia ul Mustafa Naseem, and Zulfi Bukhari.

The National Accountability Bureau (NAB) claimed that in exchange for legalizing Rs50 billion that the UK had seized and returned to the cash-strapped nation, the PTI head and his wife received land worth hundreds of acres and billions of rupees from Bahria Town Ltd, a private land development business.

Staff Reporter