The National Accountability Bureau (NAB) has announced a public auction of six high-value properties owned by Bahria Town in Rawalpindi and Islamabad, scheduled for June 12. The move is part of NAB’s efforts to recover defaulted amounts under a plea bargain agreement related to corruption charges against real estate tycoon Malik Riaz Hussain and his associates. The properties are being auctioned under Section 33E of the NAB Ordinance, 1999, which allows the bureau to sell seized assets to recover embezzled funds.
Background of the Case
The auction is linked to the high-profile £190 million Al Qadir Trust case, in which Malik Riaz and others, including former Prime Minister Imran Khan and his wife Bushra Bibi, are accused of corruption. The case revolves around the illegal settlement of a £190 million UK property scandal, where funds recovered by the UK’s National Crime Agency (NCA) from Malik Riaz were allegedly used improperly. Instead of depositing the amount in the national exchequer, the money was reportedly adjusted against Bahria Town’s liabilities in a controversial deal.
NAB has been actively pursuing the case, and the upcoming auction is part of the recovery process under the plea bargain agreement. Malik Riaz and his son Ahmed Ali Riaz are currently absconding in the case, with arrest warrants already issued against them in the Takht Pari reference, another corruption case involving illegal land acquisitions.
Properties Up for Auction
The six properties set for auction include luxury villas and commercial plots in Bahria Town Rawalpindi and Islamabad. NAB has already sealed multiple Bahria Town properties across Pakistan, including in Karachi and Lahore, as part of its crackdown on illegal land dealings and corruption. The bureau has also issued warnings to the public against investing in any Bahria Town projects, as many of its land acquisitions are under scrutiny for fraudulent allotments and encroachments.
Legal Actions Against Malik Riaz and Bahria Town
NAB has filed several corruption references against Malik Riaz and his real estate empire, including:
- Illegal land acquisitions in Rawalpindi, Karachi, and other cities.
- Encroachment on forest lands and state-owned properties.
- Money laundering and tax evasion allegations.
- Fraudulent housing schemes where investors were allegedly cheated.
In addition to the Al Qadir Trust case, Malik Riaz and his son are facing charges in the Takht Pari reference, where they are accused of illegally occupying government land worth billions. Despite multiple court summons, both have failed to appear, leading to their designation as absconders.
NAB’s Warning to the Public
NAB has repeatedly cautioned potential investors against purchasing properties in Bahria Town projects, as many of its land titles are disputed. The bureau has stated that investing in such schemes could lead to financial losses, as legal proceedings may result in the cancellation of illegal allotments.
Previous Recoveries and Ongoing Investigations
This is not the first time NAB has taken action against Bahria Town. In the past, the bureau has:
- Recovered billions through plea bargains in other cases.
- Seized hundreds of acres of illegally occupied land.
- Filed multiple references in accountability courts.
The upcoming auction on June 12 is a significant step in NAB’s efforts to recover public funds lost to corruption. If successful, the proceeds will be deposited in the national treasury.
Conclusion
The auction of Bahria Town properties marks another chapter in NAB’s long-standing battle against high-profile corruption. With Malik Riaz and his son evading arrest, the accountability watchdog is using asset seizures and auctions as a means to ensure financial recovery. However, the case also highlights the broader issue of unchecked real estate fraud in Pakistan, where powerful tycoons often exploit legal loopholes to amass wealth illegally.
As the June 12 auction approaches, all eyes will be on NAB to see whether the process is conducted transparently and whether further actions will be taken against Malik Riaz and other accused individuals in the Al Qadir Trust and Takht Pari cases.
