NAB to Auction Bahria Town Assets on June 12
The National Accountability Bureau (NAB) said Tuesday that a public auction of six Bahria Town homes in Rawalpindi and Islamabad will take place on June 12. The move is part of an effort to collect funds under a plea deal related to corruption investigations against Bahria Town owner Malik Riaz.
In its official statement, the NAB identified six properties held by Riaz—five in Rawalpindi and one in Islamabad—as assets to be auctioned. The action is being taken under Section 33E of the NAB Ordinance 1999, which allows the agency to recover defaulted monies from convicted or absconding people.
Speaking to Dawn.com, NAB communications director Birj Lal Dosani stated that the sale is part of ongoing processes to recover funds related to Riaz’s corruption charges. The recovery is specifically related to a plea bargain deal in which the accused pleads guilt and agrees to return illegally obtained funds in exchange for a lower penalty.
This development adds to NAB’s expanding list of proceedings against the troubled property mogul, who is now on the run in the £190 million Al Qadir Trust case. Earlier this year, the NAB issued public warnings to residents against investing in Bahria Town’s Dubai project and announced the start of extradition proceedings against Riaz and his son, Ali Ahmed Malik.
For their alleged roles in the unlawful transfer of land to Bahria Town, the NAB filed corruption references against Malik Riaz, Federal Minister Sharjeel Memon, former Sindh Chief Minister Syed Qaim Ali Shah, and others in February. The references include allegations related to the illegal purchase of 4,500 kanals of state land for the Bahria Golf City project in Takht Pari forest region and New Murree in Rawalpindi.
The accountability watchdog stepped up its efforts in March, sealing a number of Bahria Town’s residential and commercial properties in Islamabad, Takht Pari, Lahore, Karachi, and New Murree. Hundreds more Bahria Town automobiles and bank accounts were also frozen by NAB in relation to the ongoing corruption investigations.
Legal pressure on the business tycoon further increased when a Rawalpindi accountability court issued non-bailable arrest warrants for Malik Riaz and his son in connection with the Takht Pari reference.
In order to protect their hard-earned investments, NAB has frequently advised the public to exercise caution and against giving in to any alluring investment proposals made by Bahria Town.
Senior attorney Khawaja Haris asserts that a plea agreement is only deemed successful if the defendant acknowledges guilt and agrees to reimburse the money that was embezzled.
Using official numbers given to the Supreme Court, NAB recovered Rs65 billion through plea deals between 2000 and 2022, out of a total of Rs91.55 billion.
All eyes are on NAB’s next moves in its ongoing quest for accountability in high-stakes corruption investigations as the June 12 auction date draws ne
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