The Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) jointly raided Bahria Town offices in Islamabad, discovering sensitive documents allegedly leading to Rs 1.58 Trillion money laundering network.
According to FIA officials, initial investigations uncovered a vast hawala-hundi and money laundering network allegedly linked to property tycoon Malik Riaz and his son Ali Riaz.
Officials revealed that three separate money laundering cases have been identified against Bahria Town. The first involves laundering worth Rs1.58 trillion between 2016 and January 2025.
The second case covers laundering worth Rs1 billion between 2015 and March 2025, while the third relates to Rs24 billion laundered between 2005 and 2015.
The FIA stated that evidence collected during the raids corresponds with earlier Bahria Town cases already under NAB investigation. Based on the new findings, NAB has reportedly reopened all pending cases against the real estate developer.
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Authorities further disclosed details of benami (front) properties allegedly linked to Bahria Town, with an estimated value running into hundreds of billions of rupees. Officials said these assets were concealed to evade accountability and avoid financial scrutiny.
The FIA noted that documents, digital records, and financial ledgers seized in the raid are now being examined to track the flow of funds through hawala-hundi channels. Several employees remain under custody, and further arrests are expected.
Both FIA and NAB confirmed that investigations have been intensified, with daily legal proceedings expected to begin from next week. Officials vowed to bring all illegal activities linked to the housing society to their logical conclusion.
The case has generated significant attention due to Malik Riaz’s high-profile status in Pakistan’s real estate sector. Analysts warn that the probe could have wide-ranging implications for the property market, already under scrutiny for undocumented capital inflows and financial irregularities.
