An accountability court in Karachi has ordered the formal seizure of Bahria Town owner Malik Riaz’s Mall of Islamabad in connection with an ongoing money laundering investigation, marking a major development in one of Pakistan’s most high-profile corruption cases.
NAB Links Mall to Illicit Funds
According to court documents, the National Accountability Bureau (NAB) filed the seizure request on March 27, alleging that the property — located on Plot 65-N, Blue Area, F-7/1, Islamabad — was acquired through illicit funds channeled via front companies associated with Malik Riaz.
NAB informed the court that a money laundering reference against Malik Riaz and others is already under trial. The latest seizure request was submitted after investigators uncovered new evidence linking the Mall of Islamabad to illegal financial transactions.
Court Grants Seizure Under AMLA
The court approved NAB’s plea under Section 8 of the Anti-Money Laundering Act (AMLA), authorizing authorities to take possession of the commercial complex immediately.
The reference names Malik Riaz, his sons, and several associates as accused. NAB officials confirmed that arrest warrants have been issued multiple times during the investigation.
Property Linked to Bahria Town Network
According to NAB’s findings, the Mall of Islamabad, valued at Rs385 million, was purchased in 2014 by Ayaz Khan and Waqar Riffat, allegedly acting as proxies for Malik Riaz’s business network.
The petition also cited Wiki Trading Company, one of the firms involved in the purchase, as being owned by Malik Riaz’s brother Farhat Hussain and nephew Wasim Riffat — strengthening the bureau’s case that the funds originated from Bahria Town-linked entities.
Mounting Legal Challenges
The order adds to Malik Riaz’s growing legal troubles amid ongoing probes into land irregularities, offshore assets, and financial misconduct.
The Mall of Islamabad, a luxury mixed-use development featuring high-end retail outlets, corporate offices, and residential units, is one of Bahria Town’s flagship projects in the capital.
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