You cannot run this kind of business without keeping army happy, no way. He is good in keeping the "right:" people happy.
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Contact the PP Team
How rich is Malik Riaz?
- Thread starter shah_1
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You cannot run this kind of business without keeping army happy, no way. He is good in keeping the "right:" people happy.
Bewal Express
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If Nooras had won the election, this case would have died. No wonder the mafia and their supporters on here curse IK. All these people are the enemies of PK.
Adijazz1706
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SC is saying 358B Rs are not enough for 16,896 acres. That is about 21M Rs per Acres or 2.6M Rs per Canal of under developed land. Parks, roads and open space generally constitute 20-35% of the community. If you take that into account price looks even more unreasonable. SC and establishment is using muscle power to bully MR. I don't know if there is any under developed piece of land anywhere in the country that can be so expensive, specially 17000 acres of them
Its also not cleared to me issue is of 7000 Acres or all of 16,896?? - If its 7000, issue is much more damming from SC and establishment side...
Looking at this, I don't know if anybody wants to do business in Pakistan without Establishment backing(aka MIL backing), because if you are successful you are doomed, not just you but your generations...Sort of that happens to Politicians as well. Bhuttos are completely wiped out, in few decades... Exceptions are the ones, who are in bed with MIL, otherwise you need to find a new home, Pakistan is not a place for you...MIL don't want Entrepreneur culture in Pakistan, they see them as threat not somebody who is helping you built the country...
This is in strake contrast to US, where 50% of DOD budget goes to private defense contractors. R&D is pretty much outsourced to private sector(Govt based R&D is isolated from Army, they are mostly separate and independent culturally), Drone Tech was build by private sector that leveraged the US leadership in Software Tech. US MIL don't have stomach nor capability to go after private sector, actually some time they give away tech to private sector for Tech to really flourish, like Internet, Laser, microwave and many techs like that. Key cultural difference is in Capitalist society private sector is only proper channel to make money. Where as in Pakistan entire focus is to be part of Establishment and make money off of public sector, this is where the fundamental corruption lies. If you want to get rid of corruption, you have to privatize as much as you can and regulate private sector, with focus of how to let it flourish. People like MR are pioneer of private sector, in many ways like Rockafella, Carney, Edison, Gates and many other US Enterpreneur, most of them did not built everything clean. Society leverage and learned from them and improve the system so that next generation is not allowed to made same mistakes, but country need these pioneer as much as these guys need country to play with, its a partnership...
There is a reason MIL based or backed businesses are very successful. They don't have to pay taxes, can get their debt forgiven. I wonder if SC will investigate all the debt forgiveness services Pakistan has been providing to MIL, Corrupt Politicians, Businessman (relatives of MIL and POL) in last 50 years??
First you said he doesn't have the money, now you say he has it but is being asked to pay too much. Stuff like this is why relative morality never works
Bewal Express
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First you said he doesn't have the money, now you say he has it but is being asked to pay too much. Stuff like this is why relative morality never works
He not only said he doesn't have the money, which he clearly does, he others claimed that the army was bullying him which if anyone knows his power knows is a lie. IA IK is about to get back the billions he promised.
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ISLAMABAD: The Supreme Court will resume contempt of court proceedings against property tycoon Malik Riaz Hussain on Thursday (Feb 7) for hurling harsh allegations over six and a half years ago against then chief justice Iftikhar Mohammad Chaudhry and his son for alleged business deals.
A three-judge SC bench comprising Chief Justice Asif Saeed Khosa, Justice Maqbool Baqar and Justice Syed Mansoor Ali Shah will take up the contempt of court proceedings initiated in June 2012 against chairperson of Messrs Bahria Town (Pvt) Ltd Malik Riaz for allegedly influencing judicial proceedings then.
While senior counsel Dr Abdul Basit had represented Mr Riaz in the contempt case in 2012, he said he was not sure if he would still be appearing on behalf of the respondent when asked about it.
Currently, in a majority of cases being heard by the apex court such as the implementation of the May 4, 2018 judgement against the housing schemes launched by Bahria Town in Malir, Rawalpindi and Murree, Mr Riaz is being defended by a panel of lawyers led by Barrister Ali Zafar, Aitzaz Ahsan, Zahid Bukhari and others.
SC to resume proceedings against Malik Riaz for hurling allegations against then CJP Iftikhar Chaudhry
The contempt proceedings against the property tycoon were initiated on June 13, 2012 by a three-judge bench comprising former judges namely Justice Mian Shakirullah Jan, Justice Tariq Parvez and Justice Amir Hani Muslim that sat beyond normal court timings to issue him a show-cause notice for hurling allegations against the then CJP at a press conference.
Mr Riaz had raised three questions while addressing the press conference for then CJP Chaudhry to answer against the backdrop of alleged financial wrongdoings by his son, Dr Arsalan Iftikhar. The property tycoon accused the then chief justice of holding late-night secret meetings.
The notice was taken on a note put up by then registrar of the SC Dr Faqir Hussain annexing the Urdu transcript of whatever had been stated by Mr Riaz verbatim in the media conference on charges of scandalising and bringing the court and its judges into hatred, ridicule, lowering the SC authority and also showing disrespect to the institution. The press conference also caused obstruction in the administration of justice due to the pending cases related to Bahria Town, the notice stated.
Later on Aug 9, Mr Riaz was formally indicted for committing contempt of court and the apex court asked then attorney general Irfan Qadir to prosecute him. Separately, Advocate Ashraf Gujjar moved a petition seeking placement of the name of the accused on the Exit Control List (ECL).
Next month the then attorney general furnished a list of witnesses, including former chief justice Iftikhar Chaudhry, his son Dr Arsalan, former registrar Dr Hussain, former premier Yousuf Raza Gilani and Salman Ahmed, son-in-law of Mr Riaz.
However, the apex court ruled on Sept 20 that Mr Qadir was not competent to prosecute the accused as he had represented the same accused as his defence counsel in the past. The bench also ordered its registrar to submit a list of senior counsel amongst whom the court would select one to act as a prosecutor on behalf of the court.
On Oct 26, Mr Qadir challenged the Sept 20 order in the SC with a request that he should be restored to prosecute Mr Riaz in the contempt case since it was both a requirement of the law as well as necessary to ensure a fair trial to the contemnor.
In his review petition, Mr Qadir had emphasised the importance of the AG, contenting that the job of the prosecutor was so important that it could not be allowed to be tainted with bias.
An element of bias in any corner of the prosecutor’s mind could vitiate the entire process of contempt proceedings, he said, adding that an advocate or a person appearing in defence could get away with bias but even a speck of bias on part of a prosecutor could wreak havoc on the process.
If the AG was biased in favour of the court, fair trial would be reduced to impossibility and if he was biased in favour of the respondent, dignity of the court would be compromised, the review petition had said.
https://www.dawn.com/news/1461376/property-tycoon-malik-riaz-to-face-contempt-case-next-week
A three-judge SC bench comprising Chief Justice Asif Saeed Khosa, Justice Maqbool Baqar and Justice Syed Mansoor Ali Shah will take up the contempt of court proceedings initiated in June 2012 against chairperson of Messrs Bahria Town (Pvt) Ltd Malik Riaz for allegedly influencing judicial proceedings then.
While senior counsel Dr Abdul Basit had represented Mr Riaz in the contempt case in 2012, he said he was not sure if he would still be appearing on behalf of the respondent when asked about it.
Currently, in a majority of cases being heard by the apex court such as the implementation of the May 4, 2018 judgement against the housing schemes launched by Bahria Town in Malir, Rawalpindi and Murree, Mr Riaz is being defended by a panel of lawyers led by Barrister Ali Zafar, Aitzaz Ahsan, Zahid Bukhari and others.
SC to resume proceedings against Malik Riaz for hurling allegations against then CJP Iftikhar Chaudhry
The contempt proceedings against the property tycoon were initiated on June 13, 2012 by a three-judge bench comprising former judges namely Justice Mian Shakirullah Jan, Justice Tariq Parvez and Justice Amir Hani Muslim that sat beyond normal court timings to issue him a show-cause notice for hurling allegations against the then CJP at a press conference.
Mr Riaz had raised three questions while addressing the press conference for then CJP Chaudhry to answer against the backdrop of alleged financial wrongdoings by his son, Dr Arsalan Iftikhar. The property tycoon accused the then chief justice of holding late-night secret meetings.
The notice was taken on a note put up by then registrar of the SC Dr Faqir Hussain annexing the Urdu transcript of whatever had been stated by Mr Riaz verbatim in the media conference on charges of scandalising and bringing the court and its judges into hatred, ridicule, lowering the SC authority and also showing disrespect to the institution. The press conference also caused obstruction in the administration of justice due to the pending cases related to Bahria Town, the notice stated.
Later on Aug 9, Mr Riaz was formally indicted for committing contempt of court and the apex court asked then attorney general Irfan Qadir to prosecute him. Separately, Advocate Ashraf Gujjar moved a petition seeking placement of the name of the accused on the Exit Control List (ECL).
Next month the then attorney general furnished a list of witnesses, including former chief justice Iftikhar Chaudhry, his son Dr Arsalan, former registrar Dr Hussain, former premier Yousuf Raza Gilani and Salman Ahmed, son-in-law of Mr Riaz.
However, the apex court ruled on Sept 20 that Mr Qadir was not competent to prosecute the accused as he had represented the same accused as his defence counsel in the past. The bench also ordered its registrar to submit a list of senior counsel amongst whom the court would select one to act as a prosecutor on behalf of the court.
On Oct 26, Mr Qadir challenged the Sept 20 order in the SC with a request that he should be restored to prosecute Mr Riaz in the contempt case since it was both a requirement of the law as well as necessary to ensure a fair trial to the contemnor.
In his review petition, Mr Qadir had emphasised the importance of the AG, contenting that the job of the prosecutor was so important that it could not be allowed to be tainted with bias.
An element of bias in any corner of the prosecutor’s mind could vitiate the entire process of contempt proceedings, he said, adding that an advocate or a person appearing in defence could get away with bias but even a speck of bias on part of a prosecutor could wreak havoc on the process.
If the AG was biased in favour of the court, fair trial would be reduced to impossibility and if he was biased in favour of the respondent, dignity of the court would be compromised, the review petition had said.
https://www.dawn.com/news/1461376/property-tycoon-malik-riaz-to-face-contempt-case-next-week
Bewal Express
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The background to the case is that to blackmail the then CJP Choudhry, MR had gone into " Business" with ex CJP Choudhry son. This was no business, it was an attempt to buy influence. The SC then asked the PPP govt to write a letter to the Swiss authorities about the $60mn in the bank accounts, the "competent govt" wouldn't do it and Gilani was disqualified and AZ wasn't happy. And then AZ played his card of MR
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ISLAMABAD: The accountability court here on Monday approved acquittal of Zain Malik, son-in-law of property tycoon Malik Riaz, in six cases pertaining to fake accounts after the suspect pledged to pay Rs9.5 billion in plea bargain.
The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court.
Accountability Court judge Mohammad Bashir took up applications of Mr Malik seeking acquittal in three under-trial cases and approved them.
Zain undertook to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in three years. He will pay the amount in instalments in three months’ interval.
Mr Malik joined the court’s proceeding through a video link from the UK.
When the judge asked the son-in-law of Malik Riaz whether he knew consequences of acquittal through the plea bargain, he replied in the affirmative.
The acquittal under the plea bargain did not absolve the accused from the case as the conviction stands despite acquittal.
Mr Malik is accused in the fake accounts cases of Pink Residency, Illegal Allotment and Mega Money Laundering.
He is also an accused in the Icon Tower case of Karachi. He has to formally plead in the accountability court in this case for acquittal under the plea bargain.
https://www.dawn.com/news/1576245/m...acquitted-in-six-cases-on-rs95bn-plea-bargain
The National Accountability Bureau (NAB) submitted a schedule of payment to the accountability court.
Accountability Court judge Mohammad Bashir took up applications of Mr Malik seeking acquittal in three under-trial cases and approved them.
Zain undertook to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in three years. He will pay the amount in instalments in three months’ interval.
Mr Malik joined the court’s proceeding through a video link from the UK.
When the judge asked the son-in-law of Malik Riaz whether he knew consequences of acquittal through the plea bargain, he replied in the affirmative.
The acquittal under the plea bargain did not absolve the accused from the case as the conviction stands despite acquittal.
Mr Malik is accused in the fake accounts cases of Pink Residency, Illegal Allotment and Mega Money Laundering.
He is also an accused in the Icon Tower case of Karachi. He has to formally plead in the accountability court in this case for acquittal under the plea bargain.
https://www.dawn.com/news/1576245/m...acquitted-in-six-cases-on-rs95bn-plea-bargain
FearlessRoar
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Beyond real estate: Malik Riaz transforms social welfare in Pakistan
With Pakistan’s economy so dire that its government can no longer take up social welfare projects, private corporations and businesses are picking up the slack. One such is Bahria Town Foundation of Malik Riaz, Asia’s largest real estate developer. Through this Foundation, Malik Riaz, alongside his son, Ahmed Ali Riaz, has established numerous programmes focusing on providing healthcare, education, and financial aid to underprivileged communities, writes Nicholas Dempsie in a research-based article for ‘The World Financial Review’.
The Foundation’s trailblazing programmes include Bahria Dastarkhawan, a social welfare initiative aiming to eradicate hunger through its centres across the country that serve free meals twice a day, every day, to anyone who walks in, Dempsie further states in the article.
‘The World Financial Review’ is a platform for top scholars, economists, consultants, senior executives and global leaders from all over the world to showcase their unique insights and proposals into pressing and emerging financial and global issues.
Dempsie writes that while the international community is focused on dealing with global crises such as viral pandemics and armed conflicts, people in third-world countries face increasingly difficult living conditions. In Pakistan, for instance, poverty has surged by over 5% within just one year, with 40% of the population living below the poverty line.
Beyond real estate: Malik Riaz transforms social welfare in Pakistan | The Express Tribune
Bahria Town Foundation focuses on providing healthcare, education, and financial aid to underprivileged communities
FearlessRoar
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Malik Riaz and son should face courts, present their defence: info minister
Information Minister Attaullah Tarar said on Wednesday that Malik Riaz and his son should “face the courts and present their defence,” a day after the National Accountability Bureau (NAB) said the government was reaching out to the United Arab Emirates to seek the business tycoon’s extradition in the Al-Qadir Trust case.
Meanwhile, Riaz termed the NAB’s action against him a “new demand for blackmail” and asserted that he would not testify, without specifying in what case.
The development comes on the heels of ex-premier Imran Khan and his spouse’s conviction last week in the Al-Qadir Trust case, in which Riaz and his son are also co-accused and proclaimed offenders. As PTI and legal experts pointed to the need for accountability for all those involved, Tarar had said that consultation was ongoing on how to bring the other absconders back.
A day ago, the NAB, saying it was to seek Riaz’s extradition, stated it was conducting inquiries and investigations against him and his associates for “fraud, deceptive practices and cheating the public at large.”
In a televised address today, Tarar recalled the NAB’s press release, quoting the accountability watchdog as saying it had concrete evidence in those inquiries.
Noting that Riaz and his son had been declared absconders, Tarar stressed that if they both could have defended themselves before the courts, they would have done so in the Al-Qadir Trust case and other inquiries.
“They (Riaz and his son) should face the courts, and present their defence, which they have failed to do so far.”
He said: “NAB’s press release and it saying that more cases are underway on this … One of these is Takht-Pari, a locality in Rawalpindi, in which there is a case of illegal takeover and illegal housing society and accumulating billions from the public.”
The minister added, “Not standing before the court, escaping its proceedings, and not presenting any proof or evidence in your defence there […]. Property has been seized previously as well and more will be done, according to the NAB’s press release.”
The minister said further legal action should be completed in cases against the property tycoon.
“It should not be considered who has what position or how much power, or who has how much money.”
Stressing that the NAB worked according to the law without any bias, the minister asserted the bureau was taking “credible steps” over the matter.
“This is the first time that the NAB has [taken action against] such influential people and proceeded against them based on evidence while fulfilling legal requirements.”
Tarar highlighted: “Not only Takht-Pari but Malir Development Authority’s money, which had to be paid from those £190 million, also was to be paid to the Sindh government or the people of Pakistan.”
The information minister said it was “very odd that despite the press release issued by NAB, projects were being launched in Dubai” by the property tycoon, referring to a recently launched luxury apartments project by Riaz-owned Bahria Town Limited.
Riaz, no stranger to Pakistan’s power corridors before his fall from grace, is currently in the UAE, where he plans to develop ‘Bahria Town Dubai’, a luxury housing project that also came under scrutiny in the NAB statement.
Tarar highlighted that as per the anti-graft watchdog, any money invested in the Dubai project would be tantamount to money laundering.
He also claimed that the United Kingdom had recently cancelled the visas of Riaz and his son, which he said “was not possible without criminal proceedings”.
The minister reiterated that funds intended for the government were instead used to pay an “already-existing fine” in the Supreme Court. He repeated allegations of various cash and other transactions done between Imran and Riaz as part of a deal, calling them “undeniable evidence”.
On the other hand, Riaz termed the NAB’s action against him as a “new demand for blackmail”.
“This was my decision yesterday and this is my decision today, no matter how much you oppress me, Malik Riaz will not testify!” the property tycoon said on his X account.
“Malik Riaz will neither be used against anyone nor will be blackmailed by any. God willing, the Dubai project will be successful and will become a symbol of Pakistan throughout the world, including Dubai,” he asserted.
Referring to yesterday’s press release by the NAB, Riaz stated: “Today’s deplorable press release by NAB is actually a new demand for blackmail. I am resisting, but I am sitting with a storm in my heart. If this breaks, then everyone’s illusion will be put into reality.
“Let’s not forget that all the secrets of the last 25/30 years are safe with evidence,” he added.
“I want to mention in clear terms that years of blackmailing, fake cases and greed of officers couldn’t deter me, but due to my principle stance of refusing to be a witness (political pawn), I had to move abroad,” the property tycoon claimed.
Recalling “obstacles at every step” in doing business in Pakistan, Riaz said numerous impediments and official blackmailing sometimes created delays in fulfilling promises made to his members.
While the NAB had cautioned the public yesterday against investing in his Dubai project, Riaz asserted that “investors from dozens of countries have come to Dubai and are showing exemplary interest in the BT [Bahria Town] Properties project”.
“The secret of Dubai’s development is the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the absence of an institution like NAB,” he quipped.
“With the determination that our life and death were and will always be for Pakistan, we assure our Pakistani brothers and sisters that we have abided by the laws of every country in the world, including Pakistan, and will always continue to do so,” he stated.
Last week, Imran and his spouse were sentenced in the £190 million case involving Al-Qadir Trust.
In its reference against Imran, NAB had alleged that the then cabinet approved a confidential deed in 2019 to give £190m — seized by the UK’s National Crime Agency (NCA) and returned to Pakistan — back to real estate tycoon Malik Riaz.
The bureau had said that Imran and Bushra Bibi got billions of rupees and land measuring hundreds of kanals from Bahria Town for legalising the money.
As per the reference, Riaz’s son Ali transferred 240 kanal of land to Farhat Shahzadi, while Zulfi Bukhari received land under a trust, which NAB argued did not exist at the time of transfer.
Bukhari, a close aide of Imran Khan, recently claimed that authorities offered him lucrative deals to testify against the PTI founder in the case, but he refused.
“Anybody whose name is involved in this case was offered all sorts of deals (to testify) against Imran Khan. Luckily, none of them took that offer — not the businessman, not myself,” he told The Independent.
Information Minister Attaullah Tarar said on Wednesday that Malik Riaz and his son should “face the courts and present their defence,” a day after the National Accountability Bureau (NAB) said the government was reaching out to the United Arab Emirates to seek the business tycoon’s extradition in the Al-Qadir Trust case.
Meanwhile, Riaz termed the NAB’s action against him a “new demand for blackmail” and asserted that he would not testify, without specifying in what case.
The development comes on the heels of ex-premier Imran Khan and his spouse’s conviction last week in the Al-Qadir Trust case, in which Riaz and his son are also co-accused and proclaimed offenders. As PTI and legal experts pointed to the need for accountability for all those involved, Tarar had said that consultation was ongoing on how to bring the other absconders back.
A day ago, the NAB, saying it was to seek Riaz’s extradition, stated it was conducting inquiries and investigations against him and his associates for “fraud, deceptive practices and cheating the public at large.”
In a televised address today, Tarar recalled the NAB’s press release, quoting the accountability watchdog as saying it had concrete evidence in those inquiries.
Noting that Riaz and his son had been declared absconders, Tarar stressed that if they both could have defended themselves before the courts, they would have done so in the Al-Qadir Trust case and other inquiries.
“They (Riaz and his son) should face the courts, and present their defence, which they have failed to do so far.”
He said: “NAB’s press release and it saying that more cases are underway on this … One of these is Takht-Pari, a locality in Rawalpindi, in which there is a case of illegal takeover and illegal housing society and accumulating billions from the public.”
The minister added, “Not standing before the court, escaping its proceedings, and not presenting any proof or evidence in your defence there […]. Property has been seized previously as well and more will be done, according to the NAB’s press release.”
The minister said further legal action should be completed in cases against the property tycoon.
“It should not be considered who has what position or how much power, or who has how much money.”
Stressing that the NAB worked according to the law without any bias, the minister asserted the bureau was taking “credible steps” over the matter.
“This is the first time that the NAB has [taken action against] such influential people and proceeded against them based on evidence while fulfilling legal requirements.”
Tarar highlighted: “Not only Takht-Pari but Malir Development Authority’s money, which had to be paid from those £190 million, also was to be paid to the Sindh government or the people of Pakistan.”
The information minister said it was “very odd that despite the press release issued by NAB, projects were being launched in Dubai” by the property tycoon, referring to a recently launched luxury apartments project by Riaz-owned Bahria Town Limited.
Riaz, no stranger to Pakistan’s power corridors before his fall from grace, is currently in the UAE, where he plans to develop ‘Bahria Town Dubai’, a luxury housing project that also came under scrutiny in the NAB statement.
Tarar highlighted that as per the anti-graft watchdog, any money invested in the Dubai project would be tantamount to money laundering.
He also claimed that the United Kingdom had recently cancelled the visas of Riaz and his son, which he said “was not possible without criminal proceedings”.
The minister reiterated that funds intended for the government were instead used to pay an “already-existing fine” in the Supreme Court. He repeated allegations of various cash and other transactions done between Imran and Riaz as part of a deal, calling them “undeniable evidence”.
On the other hand, Riaz termed the NAB’s action against him as a “new demand for blackmail”.
“This was my decision yesterday and this is my decision today, no matter how much you oppress me, Malik Riaz will not testify!” the property tycoon said on his X account.
“Malik Riaz will neither be used against anyone nor will be blackmailed by any. God willing, the Dubai project will be successful and will become a symbol of Pakistan throughout the world, including Dubai,” he asserted.
Referring to yesterday’s press release by the NAB, Riaz stated: “Today’s deplorable press release by NAB is actually a new demand for blackmail. I am resisting, but I am sitting with a storm in my heart. If this breaks, then everyone’s illusion will be put into reality.
“Let’s not forget that all the secrets of the last 25/30 years are safe with evidence,” he added.
“I want to mention in clear terms that years of blackmailing, fake cases and greed of officers couldn’t deter me, but due to my principle stance of refusing to be a witness (political pawn), I had to move abroad,” the property tycoon claimed.
Recalling “obstacles at every step” in doing business in Pakistan, Riaz said numerous impediments and official blackmailing sometimes created delays in fulfilling promises made to his members.
While the NAB had cautioned the public yesterday against investing in his Dubai project, Riaz asserted that “investors from dozens of countries have come to Dubai and are showing exemplary interest in the BT [Bahria Town] Properties project”.
“The secret of Dubai’s development is the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and the absence of an institution like NAB,” he quipped.
“With the determination that our life and death were and will always be for Pakistan, we assure our Pakistani brothers and sisters that we have abided by the laws of every country in the world, including Pakistan, and will always continue to do so,” he stated.
Last week, Imran and his spouse were sentenced in the £190 million case involving Al-Qadir Trust.
In its reference against Imran, NAB had alleged that the then cabinet approved a confidential deed in 2019 to give £190m — seized by the UK’s National Crime Agency (NCA) and returned to Pakistan — back to real estate tycoon Malik Riaz.
The bureau had said that Imran and Bushra Bibi got billions of rupees and land measuring hundreds of kanals from Bahria Town for legalising the money.
As per the reference, Riaz’s son Ali transferred 240 kanal of land to Farhat Shahzadi, while Zulfi Bukhari received land under a trust, which NAB argued did not exist at the time of transfer.
Bukhari, a close aide of Imran Khan, recently claimed that authorities offered him lucrative deals to testify against the PTI founder in the case, but he refused.
“Anybody whose name is involved in this case was offered all sorts of deals (to testify) against Imran Khan. Luckily, none of them took that offer — not the businessman, not myself,” he told The Independent.
Malik Riaz and son should face courts, present their defence: info minister
Riaz terms NAB’s action against him as a “new demand for blackmail”, says he will not testify.
www.dawn.com
FearlessRoar
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Malik Riaz can’t evade accountability through judiciary or politicians: Asif
Defence Minister Khawaja Asif on Thursday said that business tycoon Malik Riaz will not be able to evade accountability in the cases registered against him, stressing that neither the judicial system nor any political force would be able to assist him.
His statement comes after the National Accountability Bureau (NAB) cautioned the public on Tuesday against investing in Riaz’s new real estate project in Dubai, adding that the government was reaching out to the United Arab Emirates to seek his extradition through legal avenues.
The development came on the heels of PTI founder Imran Khan and his spouse’s conviction in the Al-Qadir Trust case, in which Riaz and his son are also co-accused and proclaimed offenders. As PTI and legal experts pointed to the need for accountability for all those involved, the government said consultations were being carried out on how to bring the other absconders back.
Holding a press conference in Islamabad today to address the issue once again, the defence minister stressed that Riaz would not be able to escape accountability this time.
“If someone has this misunderstanding or wishful thinking that there will be some compromise, or if they hope that if circumstances change, they’ll get relief … they shouldn’t expect to get any relief,” he said.
“Neither our judicial system nor any political force could afford to get them relief. And if the proceedings related to their extradition start, they will not only be brought back here but other cases against them – including the illegal occupation of lands and construction of illegal societies — all these cases will be pursued.”
The minister said that Pakistan had an extradition treaty with the UAE that can be used against any convicted criminal after following a set procedure, adding that the case represented “accountability at the highest level, one where even the Pakistani media had no reach.”
“The majority of the media houses cannot hold these individuals, these sacred cows, accountable, so much so that even mentioning or airing their names is forbidden,” he said.
“So, just imagine how much those outlets have been obliged, and how much money has been invested in [keeping them silent].”
He added that the state had ultimately caught up to these people after letting them scot-free after 20 to 25 years.
“This Malik Riaz saga has been running for the last 30 years and he has used his influence everywhere,” he said. “The financial transactions related to Bahria Town carried out over the last 25 to 30 years are not transparent, and therefore, require a national investigation.”
On Wednesday, Information Minister Attaullah Tarar said that Riaz and his son should “face the courts and present their defence.”
Meanwhile, responding to the government’s decision to take action against him, Riaz said it was a “new demand for blackmail”.
“This was my decision yesterday and this is my decision today, no matter how much you oppress me, Malik Riaz will not testify!” the property tycoon had said on his X account.
“Malik Riaz will neither be used against anyone nor will be blackmailed by any. God willing, the Dubai project will be successful and will become a symbol of Pakistan throughout the world, including Dubai,” he had asserted.
“I want to mention in clear terms that years of blackmailing, fake cases and greed of officers couldn’t deter me, but due to my principle stance of refusing to be a witness (political pawn), I had to move abroad.”
In its reference against Imran, NAB had alleged that the then cabinet approved a confidential deed in 2019 to give £190m — seized by the UK’s National Crime Agency and returned to Pakistan — back to real estate tycoon Malik Riaz.
The bureau had said that Imran and Bushra Bibi got billions of rupees and land measuring hundreds of kanals from Riaz’s Bahria Town project for legalising the money.
As per the reference, Riaz’s son Ali transferred 240 kanals of land to Farhat Shahzadi, while Zulfi Bukhari received land under a trust, which NAB argued did not exist at the time of transfer.
Bukhari, a close aide of Imran, recently claimed that authorities offered him lucrative deals to testify against the PTI founder in the case, but he refused.
“Anybody whose name is involved in this case was offered all sorts of deals (to testify) against Imran Khan. Luckily, none of them took that offer — not the businessman, not myself,” he told The Independent.
Defence Minister Khawaja Asif on Thursday said that business tycoon Malik Riaz will not be able to evade accountability in the cases registered against him, stressing that neither the judicial system nor any political force would be able to assist him.
His statement comes after the National Accountability Bureau (NAB) cautioned the public on Tuesday against investing in Riaz’s new real estate project in Dubai, adding that the government was reaching out to the United Arab Emirates to seek his extradition through legal avenues.
The development came on the heels of PTI founder Imran Khan and his spouse’s conviction in the Al-Qadir Trust case, in which Riaz and his son are also co-accused and proclaimed offenders. As PTI and legal experts pointed to the need for accountability for all those involved, the government said consultations were being carried out on how to bring the other absconders back.
Holding a press conference in Islamabad today to address the issue once again, the defence minister stressed that Riaz would not be able to escape accountability this time.
“If someone has this misunderstanding or wishful thinking that there will be some compromise, or if they hope that if circumstances change, they’ll get relief … they shouldn’t expect to get any relief,” he said.
“Neither our judicial system nor any political force could afford to get them relief. And if the proceedings related to their extradition start, they will not only be brought back here but other cases against them – including the illegal occupation of lands and construction of illegal societies — all these cases will be pursued.”
The minister said that Pakistan had an extradition treaty with the UAE that can be used against any convicted criminal after following a set procedure, adding that the case represented “accountability at the highest level, one where even the Pakistani media had no reach.”
“The majority of the media houses cannot hold these individuals, these sacred cows, accountable, so much so that even mentioning or airing their names is forbidden,” he said.
“So, just imagine how much those outlets have been obliged, and how much money has been invested in [keeping them silent].”
He added that the state had ultimately caught up to these people after letting them scot-free after 20 to 25 years.
“This Malik Riaz saga has been running for the last 30 years and he has used his influence everywhere,” he said. “The financial transactions related to Bahria Town carried out over the last 25 to 30 years are not transparent, and therefore, require a national investigation.”
On Wednesday, Information Minister Attaullah Tarar said that Riaz and his son should “face the courts and present their defence.”
Meanwhile, responding to the government’s decision to take action against him, Riaz said it was a “new demand for blackmail”.
“This was my decision yesterday and this is my decision today, no matter how much you oppress me, Malik Riaz will not testify!” the property tycoon had said on his X account.
“Malik Riaz will neither be used against anyone nor will be blackmailed by any. God willing, the Dubai project will be successful and will become a symbol of Pakistan throughout the world, including Dubai,” he had asserted.
“I want to mention in clear terms that years of blackmailing, fake cases and greed of officers couldn’t deter me, but due to my principle stance of refusing to be a witness (political pawn), I had to move abroad.”
In its reference against Imran, NAB had alleged that the then cabinet approved a confidential deed in 2019 to give £190m — seized by the UK’s National Crime Agency and returned to Pakistan — back to real estate tycoon Malik Riaz.
The bureau had said that Imran and Bushra Bibi got billions of rupees and land measuring hundreds of kanals from Riaz’s Bahria Town project for legalising the money.
As per the reference, Riaz’s son Ali transferred 240 kanals of land to Farhat Shahzadi, while Zulfi Bukhari received land under a trust, which NAB argued did not exist at the time of transfer.
Bukhari, a close aide of Imran, recently claimed that authorities offered him lucrative deals to testify against the PTI founder in the case, but he refused.
“Anybody whose name is involved in this case was offered all sorts of deals (to testify) against Imran Khan. Luckily, none of them took that offer — not the businessman, not myself,” he told The Independent.
Malik Riaz can’t evade accountability through judiciary or politicians: Asif
Says once Riaz's extradition process starts and he's brought back to Pakistan, all cases against him will be pursued.
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NAB takes major action against Bahria Town; freezes assets
The National Accountability Bureau (NAB) on Monday frozen hundreds of bank accounts and seized vehicles and properties linked to Bahria Town across multiple cities, including Karachi, Lahore, and Islamabad.
According to a statement issued by NAB, the anti-graft watchdog has sealed multi-storey residential and commercial properties in Golf City, Islamabad, New Murree, and Takt Padi, citing legal action to protect the rights of citizens affected by alleged fraudulent transactions.
NAB officials revealed that several cases of financial mismanagement, land fraud, and money laundering are under investigation against Bahria Town Pakistan. Authorities claim to have gathered substantial evidence indicating that funds are being transferred abroad to finance Malik Riaz’s Dubai-based real estate ventures.
“Any funds transferred from Pakistan to support these projects will be considered money laundering, and strict legal action will be taken against those involved,” a NAB spokesperson said, urging the public to be cautious of Bahria Town’s ongoing offers.
Additionally, NAB has launched a crackdown on fugitive suspects linked to Bahria Town’s financial dealings, with efforts underway to bring them back to face legal proceedings in Pakistan.
The development comes amid increased scrutiny of high-profile real estate ventures accused of misleading investors and engaging in financial misconduct.
Malik Riaz, a prominent figure in Pakistan’s real estate sector, has long denied allegations of wrongdoing, but NAB maintains that its investigations are based on solid evidence.
www.samaa.tv
The National Accountability Bureau (NAB) on Monday frozen hundreds of bank accounts and seized vehicles and properties linked to Bahria Town across multiple cities, including Karachi, Lahore, and Islamabad.
According to a statement issued by NAB, the anti-graft watchdog has sealed multi-storey residential and commercial properties in Golf City, Islamabad, New Murree, and Takt Padi, citing legal action to protect the rights of citizens affected by alleged fraudulent transactions.
NAB officials revealed that several cases of financial mismanagement, land fraud, and money laundering are under investigation against Bahria Town Pakistan. Authorities claim to have gathered substantial evidence indicating that funds are being transferred abroad to finance Malik Riaz’s Dubai-based real estate ventures.
“Any funds transferred from Pakistan to support these projects will be considered money laundering, and strict legal action will be taken against those involved,” a NAB spokesperson said, urging the public to be cautious of Bahria Town’s ongoing offers.
Additionally, NAB has launched a crackdown on fugitive suspects linked to Bahria Town’s financial dealings, with efforts underway to bring them back to face legal proceedings in Pakistan.
The development comes amid increased scrutiny of high-profile real estate ventures accused of misleading investors and engaging in financial misconduct.
Malik Riaz, a prominent figure in Pakistan’s real estate sector, has long denied allegations of wrongdoing, but NAB maintains that its investigations are based on solid evidence.
NAB takes major action against Bahria Town; freezes assets
The National Accountability Bureau (NAB) has frozen Bahria Town’s accounts, vehicles, and properties across Pakistan, including Karachi, Lahore, and Islamabad. Legal action is underway against Malik Riaz and others over alleged fraud and money laundering.
