Malik Riaz, held accountable by The National Accountability Bureau (NAB), which aims to capture more assets belonging to him.
As per focal person of NAB, the famous business tycoon, Malik Riaz looted hundreds of thousands of people of billions of rupees.
He is a fraudulent who traped people by establishing illegal housing societies across the length and breadth of Pakistan.
He targeted Rawalpindi, New Murree, Karachi, Jamshoro, and Peshawar without getting the No Objection Certificates (NOCs).
A number of cases based on illegal-land grabbing are registered against Malik Riaz and his partners.
Illegal land-grabbing and fraudulent housing schemes
As per NAB, Riaz occupied land illegally in various cities in the name of Bahria Town.
He has a number of projects running under his name which involve money investment from unsuspected investors.
As per NAB, NCA is still seeking him and NAB and the courts both have declared him ‘Wanted’.
In Dubai, he has launched a luxury apartment venture, which NAB suspects is a scheme to turn black money into white money.
NAB warned the public to invest in the projects of Riaz, as they can face future legal challenges on their part.
Government and Dubai correspondence
NAB’s focal person said that the Pakistani government plans to coordinate with the Dubai authorities regarding Riaz’s case.
NAB has already captured Vario’s assets of Malik Riaz in Pakistan and aims to capture more in future.
NAB aims to coordinate with Dubai authorities in Malik Riaz’s case.
