January 24, 2025 (MLN): The National Accountability Bureau (NAB) is conducting inquiries/investigations against the owner of Bahria Town (Pvt.) Ltd., Malik Riaz, and the people associated with him for fraud, deceptive practices, and cheating the public at large.
NAB possesses cogent and credible information about the fact that Malik Riaz and his accomplices have illegally possessed/occupied State-owned land, according to the press release issued.
He is using these lands for developing housing societies without obtaining mandatory/required regulatory permissions/No Objection Certificates and has committed fraud against the State and general public at large to the tune of billions of Rupees.
Malik Riaz has been developing housing societies under the name of Bahria Town (Pvt.) Ltd. in other cities, including Peshawar and Jamshoro, in a duplicitous manner.
He has been illegally possessing/occupying land and failing to procure the mandatory regulatory permissions and No Objection Certificates as stated earlier.
Malik Riaz continues to defraud the general public at large by selling them plots/files in these illegal housing societies.
Neither does Malik Riaz nor Bahria Town (Pvt.) Ltd. has a good/clear title to any of the lands in these illegal housing societies.
NAB also holds information regarding their illegal occupation of land belonging to private persons situated at Karachi, Takht-Parri, Rawalpindi, and New Murree.
At the moment Malik Riaz is an absconder in the NCA case and is wanted by Court.
NAB has already frozen innumerable assets of Bahria Town (Pvt.) Ltd. and Malik Riaz.
Malik Riaz is residing in Dubai, United Arab Emirates. He has recently launched a project for the construction of luxury apartments in Dubai, United Arab Emirates.
The general public at large is hereby advised and warned to refrain from investing in the stated project.
If the general public at large invests in the stated project, their actions would be tantamount to money laundering, for which they may face criminal/ legal proceedings.
The Government of the Islamic Republic of Pakistan is reaching out to the Government of the United Arab Emirates for the extradition of Malik Riaz through legal channels.
NAB is obliged under its mandate to keep people aware of the deceptive and fabricated marketing practices of illegal housing societies that are scamming the general public at large and raking in billions of Rupees.
Copyright Mettis Link News
Posted on: 2025-01-24T12:19:00+05:00