KARACHI: National Accountability Bureau (NAB) has frozen two foreign bank accounts at Silver Bank in Mauritius, holding USD4.5 million, allegedly linked to Bahria Town in a major cross-border money laundering operation.
According to the NAB officials, the accounts are held in the names of accused Ahmad Ali Riaz and Mubashira Ali Malik.
The action was carried out under the Anti-Money Laundering Act 2010, following formal authorization from an accountability court in Karachi. The funds were originally moved out of Pakistan through an illegal hawala/hundi network, NAB officials confirmed.
The money was first routed to the United Arab Emirates before being laundered onward into Mauritius, where it was deposited into joint bank accounts, they added.
NAB has initiated formal legal proceedings through the Ministry of Foreign Affairs, they said and added that steps to confiscate the funds and repatriate them to Pakistan are now in their final stages.
The NAB officials described the operation as part of its broader commitment to pursuing illegally acquired assets across jurisdictions, with international cooperation at the center of its asset recovery strategy.
Bahria Town, one of Pakistan’s largest private real estate developers, has faced a series of legal and financial cases in recent past. Neither the company nor the named accused had issued a public response at the time of filing this report.
Copyright Business Recorder, 2026
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