NAB summons real estate tycoon Malik Riaz to reveal £190 million settlement

The National Accountability Bureau (NAB) has asked real estate magnate Malik Riaz and close aides of PTI Chairman Imran Khan to appear before court on December 1 in a case relating to a £190 million (Rs50 billion) settlement.

According to Profit, the owner of Bahria Town Malik Riaz was asked to appear before a joint investigation team of the anti-corruption watchdog on December 1 at 11 am at the bureau’s Rawalpindi headquarters, according to a NAB letter.

“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 UK and illegal sealing of its record,” the notice stated.

It claimed that Ali Riaz Malik and others had entered into an out-of-court settlement agreement with Britain’s National Crime Agency for the repatriation of funds to the government of Pakistan following an investigation into allegations of abuse of power, financial gain, and criminal breach of trust.

Imran and his wife were accused by Rana Sana Ullah of getting substantial amounts of land from Bahria Town property owners.

Malik Riaz has been demanded to provide full records regarding the acquisition of 458 kanals in Tehsil Sohawa, the agreement by which Bahria Town donated land to Al Qadir Trust along with revenue documents, and information regarding any other property that he or any of his relatives transferred in favour of Al Qadir Trust or any of its trustees.

Unverified reports claim that Imran Khan’s wife serves as one of the trustees. The real estate tycoon was informed that disobeying this notification could result in legal repercussions under NAO 1999.

Interior Minister Rana Sanaullah revealed a secret arrangement between the NCA and Malik Riaz’s family members (referred to as “the counter parties”) in June of this year.

In order to defend the real estate company in a case involving money laundering, he had charged Imran Khan and his wife of collecting Rs5 billion and hundreds of kanals of land from Bahria Town.

A £190 million settlement offer that includes a UK property, 1 Hyde Park Place, London, W2 2LH, was accepted by the NCA in December 2019. All of the money, which had a value of almost £50 million, ended up in Malik Riaz’s blocked accounts.