File photo of Malik Riaz
The National Accountability Bureau (NAB) last week directed real estate tycoon Malik Riaz, as well as other beneficiaries, to appear before it on Dec. 1 in a case related to the return of £190 million to him by the federal cabinet as part of a settlement with the U.K.’s National Crime Agency (NCA).
According to the NAB letter, Bahria Town owner Riaz had been directed to appear before an investigation team of the anti-corruption watchdog at its Rawalpindi headquarters. “Call-up notice to the persons acquainted with facts of the case under Section 19 of the National Accountability Ordinance 1999, inquiry against holders of public office and others qua misuse of authority, financial gains and criminal breach of trust in recovery of crime proceeds received from the U.K. and illegal sealing of its record,” read the notice, adding inquiries into allegations of misuse of authority, financial gains and criminal breach of trust had found that Ali Riaz Malik and others had reached an out-of-court settlement with the NCA for repatriation of funds to the Government of Pakistan.
“Moreover, M/s Bahria Town donated land measuring 458 acres, four marlas and 58 square feet, situated at Mauza Barkala, Tehsil Sohawa, District Jhelum, for Al Qadir Trust University. Therefore, you are in possession of information/evidence whatsoever, which relates to the commission of the said offense(s),” it continued, directing Malik Riaz to furnish a complete record of his purchase of 458 kanals at Tehsil Sohawa; the agreement through which Bahria Town donated land to Al Qadir Trust along with revenue documents; and details of other property transferred by him, or by any of his relatives, in favor of Al Qadir Trust or any of its trustees. “You are advised that failing to comply with this notice may entail penal consequences under NAO 1999,” the letter added.
Reportedly, Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan’s wife, Bushra Bibi, is one of the trustees of Al Qadir. Several ministers of the ruling coalition have alleged that Khan and his wife accepted a “bribe” of Rs. 5 billion as well as land from Bahria Town to protect it from a money-laundering case. The PTI has denied these allegations.
NCA settlement
In December 2019, the NCA accepted a settlement offer of £190 million, including a U.K. property valued at approximately £50 million and funds parked in frozen accounts of Malik Riaz, in a suspected money-laundering case. Earlier that year, the Supreme Court of Pakistan had accepted a plea by Bahria Town to pay Rs. 460 billion for land granted to the Malir Development Authority by the Sindh government after ruling the process illegal.
In a press conference in June, Interior Minister Rana Sanaullah alleged that PTI’s accountability czar Shehzad Akbar had “settled” the entire case, adjusting the amount owed to the national exchequer against Bahria Town’s liability. Further alleging that Khan had received a “bribe” of Rs. 5 billion for this, he claimed that the real estate firm had also allotted 458 kanals of land with an on-paper value of Rs. 530 million to the Al Qadir Trust for the “protection” it was provided.