ISLAMABAD: The Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) jointly conducted a raid on Bahria Town’s offices in Islamabad, seizing vital records as part of their ongoing investigation into money laundering and illegal financial schemes.
FIA officials reported that during the operation, important documents were recovered, and several Bahria Town employees were detained. Preliminary findings point to the existence of a widespread hawala-hundi and money laundering network associated with property magnate Malik Riaz and his son, Ali Riaz.The agencies revealed that three separate cases of money laundering have been linked to Bahria Town:
From 2016 to January 2025, laundering activities amounting to Rs 1.58 trillion.
From 2015 to March 2025, laundering worth Rs 1 billion.
Between 2005 and 2015, laundering totaling Rs 24 billion.
Officials indicated that the evidence obtained aligns with previous NAB investigations into Bahria Town. Consequently, NAB has reportedly reopened all unresolved cases related to the housing conglomerate based on the new disclosures.
Additionally, FIA provided details about benami (front) properties associated with Bahria Town, which are estimated to be worth hundreds of billions of rupees. Both agencies are now stepping up their efforts, with plans to initiate daily legal proceedings starting next week. Authorities assured the public that they are committed to thoroughly investigating and resolving all illegal activities uncovered during these operations.
