Pakistan
Money Laundering Network Linked to Malik Riaz Uncovered: Tarar
Money laundering network linked to real estate tycoon Malik Riaz and his Bahria Town group has been uncovered, according to Information Minister Attaullah Tarar.
In a statement on Thursday, he said the Federal Investigation Agency (FIA) found “irrefutable evidence” of illegal financial operations during a raid in Rawalpindi.
READ MORE
Pakistan Navy, ANF Seize Over 1,200kg of Narcotics
The raid, conducted at Safari Hospital — a facility reportedly associated with Bahria Town — revealed documents detailing transactions worth Rs1.12 billion.
The hospital’s ambulances were allegedly used to transport cash and sensitive documents in an attempt to hide the money laundering network, the minister claimed.
Tarar said that some hospital staff tried to destroy the records during the raid, but investigators managed to recover a significant amount of material.
The recovered documents reportedly link Bahria Town’s Chief Financial Officer and Director of Finance to a hundi-hawala system operated by two individuals, identified as Imran and Qaiser.
“This is a mega corruption scandal,” said Tarar.
He alleged that funds were transferred abroad, resulting in a serious loss to the national treasury. One Bahria Town official, Colonel (retd) Khalil, has been arrested, while others are believed to be in hiding.
The minister urged those absconding to surrender, stressing that the government possesses solid evidence against them.
He also assured Bahria Town residents that the investigation targets only those involved in financial crimes and does not affect ordinary homeowners or investors.
Meanwhile, Malik Riaz, already declared an absconder in the Al-Qadir Trust case, faces more legal pressure.
The National Accountability Bureau (NAB) has begun auctioning his assets. Bahria Town Corporate Office II was sold for Rs880.6 million, and Rubaish Marquee and Lawn for Rs508.3 million.
The next phase of the auction is scheduled for August 7, 2025.
Officials confirmed the auction is part of efforts to recover funds following a court-approved plea bargain that Riaz allegedly failed to honour.
