Laundering of Bahria Town funds abroad: Malik Riaz, son Ali declared POs in two cases

ISLAMABAD: A local court on Thursday declared property tycoon Malik Riaz and his son Ali Riaz Malik as proclaimed offenders in two cases involving the alleged laundering of Bahria Town funds abroad.

Additional District and Sessions Judge Nasruminallah Baloch, while hearing the cases, issued perpetual arrest warrants for the two accused. The court also directed authorities to block their Computerised National Identity Cards (CNICs) and mobile SIMs.

The Federal Investigation Agency’s money laundering wing had registered the cases, accusing the duo of illegally transferring large sums of money overseas to finance Malik Riaz’s Dubai property project.

Last month, Information Minister Attaullah Tarar revealed that investigators had obtained incontrovertible evidence of large-scale money laundering and corruption involving Malik Riaz and his company.

According to the minister, the FIA had raided Safari Hospital in Rawalpindi, allegedly being used as a front office to conceal cash and records. During the operation, officials unearthed evidence about the laundering of Rs1.12 billion. According to him, investigators are expecting more funds to be traced as the probe deepens.

Tarar further claimed that Bahria Town’s chief financial officer and finance director were linked to Hawala and Hundi operators responsible for sending funds abroad. He added that Bahria Town staff tried to destroy documents during the raid, but investigators managed to seize most of the records.

Copyright Business Recorder, 2025