Malik Riaz and his son have failed to appear before the Accountability Court, leading to the court’s stern decision.
Assets of Malik Riaz frozen: Significant move in ongoing legal proceedings. Accountability Court has ordered the seizing of all property and assets in Pakistan owned by property tycoon and owner of Bahria Town Malik Riaz in the £190m case.
Declaring Malik Riaz and his son Ahmed Ali Riaz as proclaimed offenders the Accountability court judge Mohammad Bashir has ordered National Accountability Court (NAB) to seize all properties, bank accounts and vehicles of the two offenders.
Despite court orders, Malik Riaz and his son have failed to appear before the Accountability Court, leading to the court’s stern decision. The judge has instructed the NAB to seize all properties, bank accounts, and vehicles owned by the two proclaimed offenders.
The freeze on assets encompasses a comprehensive approach, with the court not only ordering the confiscation of properties but also the freezing of bank accounts associated with the property tycoon and his son. Furthermore, the vehicles owned by the offenders will be taken into custody by the NAB.
NAB had filed a reference in the accountability court against jailed Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan and others pertaining to 190 million pounds Al-Qadir Trust scam.
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Besides the PTI chairman, seven other accused including his wife Bushra Bibi, Farah Gogi, Shahzad Akbar, Barrister Zia ul Mustafa Naseem and Zulfi Bukhari are named in the reference. The National Accountability Bureau (NAB) alleged that the PTI chief and his wife obtained billions of rupees and land worth dozens of acres from Bahria Town Ltd, a private land developing company, for legalising Rs50 billion that was confiscated and returned to the cash-strapped country by the UK.
