ISLAMABAD: Pakistan’s anti-corruption watchdog, the National Accountability Bureau (NAB), has initiated the extradition process for property tycoon Malik Riaz and his son Ali Malik from the UAE.
Dawn News cited sources reported that the extradition process falls under international anti-money laundering laws and the Vienna Convention.
Officials say the anti-graft watchdog has formally contacted UAE authorities to secure Riaz’s return.
Riaz, one of Pakistan’s most influential businessmen, has long been seen as untouchable. However, authorities have intensified efforts to bring him back to face corruption charges.
A NAB source dismissed claims by the opposition Pakistan Tehreek-e-Insaf (PTI) that UK authorities did not accuse Riaz of corruption in a £190 million case.
The source cited a 2021 UK Royal Court of Justice ruling, which upheld a Home Office decision linking Riaz and his son to corruption and financial misconduct.
The UK government based its decision on investigations into Bahria Town, the real estate empire controlled by Riaz’s family.
The UK Home Office revoked Riaz’s visa after reviewing multiple legal findings. These included a 2019 National Crime Agency (NCA) settlement, Pakistani Supreme Court rulings on Bahria Town, a Joint Investigation Team (JIT) report on suspicious financial transactions, and a NAB reference filed in April 2019.
Earlier this month, NAB announced its plan to extradite Riaz and warned investors against his UAE-based company, Bahria Town Dubai.
In 2018, Riaz partnered with the UAE-based Dhabi Group to launch a $20 billion real estate project in Dubai. The project, Bahria Town Dubai, aimed to create a luxury residential and commercial community. The launch ceremony took place recently in Dubai.
NAB has accused Bahria Town of illegally seizing public and private land for housing projects in Pakistan. Riaz is currently believed to be residing in Dubai to avoid legal action.
Al Qadir Trust ‘Non-Functional’
Meanwhile, PML-N Senator Irfan Siddiqui claimed the Al Qadir Trust has been inactive since 2020.
In a statement, he said Al Qadir University was registered in December 2019. Before that, in April of the same year, Riaz transferred 458 kanals of land to Zulfi Bukhari, a close aide of Imran Khan. The land was later moved under the trust’s name.
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Jailed PTI founder Imran Khan donated only Rs50,000 to the trust, while Riaz deposited over Rs280 million into its bank account.
Siddiqui further alleged that in July 2020, Ali Malik transferred 240 kanals of land in Banigala to Farah Gogi, a close friend of Bushra Bibi, Imran Khan’s wife.
The senator claimed NAB’s intervention led to the trust’s registration being canceled after just eight months, and it has remained inactive since.
