NAB urges FIA to take immediate action to extradite Malik Riaz

WEB DESK: The National Accountability Bureau (NAB) has reached out to Federal Investigation Agency (FIA) by writing a letter to repatriate business tycoon Malik Riaz. NAB has detailed the accusation of money laundering in the 190 million pound scandal, also known as Al-Qadir Trust case on Riaz. The letter is requesting United Arab Emirates (UAE) government to assist in Riaz’s return.

Known for his association with the real-estate industry, Malik Riaz has been declared a proclaimed offender and absconder in the 190 million pound case. FIA is urged to take immediate action through Interpol for Riaz’s repatriation alongside his son, Ali Malik.

According to a NAB official speaking to Dawn Newspaper, the extradition will be pursued under international anti-money laundering laws and the Vienna Convention. The involvement of UAE government is important owing to Riaz’s influence which makes him almost ‘untouchable’.

The official also dismissed claim put forward by Pakistan Tehreek-e-Insaf (PTI) that Malik Riaz was not accused of corruption by UK authorities in the 190 million pound case. It was pointed out that the UK’s Royal Court of Justice decision from November 2021 proved that both Riaz and his son were involved in the ‘corruption and financial misconduct linked to Bahria Town, described as Asia’s largest property developer.’ Their visas were also cancelled by the UK Home Office after reviewing the National Crime Agency’s (NCA) 2019 investigation and settlement Supreme Court rulings in Bahria Town cases, a JIT report on fake accounts, and a NAB reference filed against Bahria Town in April 2019.

Earlier in January this year, NAB had announced that it would be extarditing Malik Riaz and had warned the public against investing in his UAE-based project, Bahria Town Dubai. In 2018, the business tycoon had joined hands with UAE’s Dhabi Group to commence a USD20b real estate project of the same. Its launch ceremony was held recently. It is highly likely that Riaz is currently living in Dubai to avoid any legal action in Pakistan.

Bahria Town been accused of illegally occupying public and private land for its housing projects across Pakistan.