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Law enforcement agencies intensified their action against financial crimes on Monday, as the Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) jointly raided Bahria Town offices in Islamabad.
During the operation, officials recovered sensitive documents and arrested several Bahria Town employees. The raids are part of an ongoing investigation into alleged money laundering and illegal financial networks.
Allegations Against Malik Riaz and Son
According to FIA sources, initial findings suggest a massive hawala-hundi and money laundering network tied to property tycoon Malik Riaz and his son Ali Riaz.
Officials claim the evidence points to an elaborate financial system that allegedly enabled the transfer of huge sums of money through undocumented channels.
Identified Money Laundering Cases
The FIA revealed three major cases under investigation against Bahria Town:
- Rs. 1.58 trillion laundered between 2016 and January 2025
- Rs. 1 billion laundered between 2015 and March 2025
- Rs. 24 billion laundered between 2005 and 2015
Authorities said that documents seized during the raids corroborate previous NAB cases involving Bahria Town. This has prompted the accountability watchdog to reopen all pending files against the developer.
Benami Properties Under Scrutiny
Investigators also disclosed the discovery of benami (front) properties allegedly linked to Bahria Town. The estimated value of these properties runs into hundreds of billions of rupees, suggesting the scale of the alleged financial network.
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Sources confirmed that both FIA and NAB are now pursuing leads tied to these properties as part of a comprehensive crackdown.
Next Steps in Investigation
Officials have confirmed that the FIA and NAB will begin daily legal proceedings starting next week. The agencies have vowed that all illegal activities connected to these cases will be pursued to their “logical conclusion.”
The ongoing investigation marks one of the largest financial crime probes in Pakistan’s real estate sector, raising serious questions about corporate accountability and financial regulation.
