Pakistan’s National Accountability Bureau (NAB) has formally initiated the extradition of property tycoon Malik Riaz from the United Arab Emirates (UAE). To help Malik Riaz return through Interpol, NAB has written to the Federal Investigation Agency (FIA).
In the Al-Qadir Trust case, where former Prime Minister Imran Khan and his wife Bushra Bibi are both co-accused and awaiting trial, Malik Riaz is charged with corruption. The Al-Qadir Trust case is the basis for this action, according to a NAB official.
Under an agreement on the repatriation of criminals with the United Arab Emirates, Defense Minister Khawaja Asif had previously declared that the Pakistani government will take action to extradite Malik Riaz. Due to allegations of money laundering, NAB had cautioned the public against investing in Malik Riaz’s new luxury apartment complex in Dubai. Investors in this project may be subject to criminal prosecution.
In response to NAB’s actions, Malik Riaz claimed on social media that he is being singled out politically and that the cases against him are false and motivated by blackmail. Additionally, he stated that conducting business in Pakistan has grown challenging and that he is unwilling to testify under duress.
Currently living in Dubai, Malik Riaz is the chairman of Bahria Town, which bills itself as Asia’s largest private housing society and is one of Pakistan’s biggest real estate developers.
When a Pakistani court earlier this month sentenced former Prime Minister Imran Khan to 14 years in prison and his wife Bushra Bibi to 7 years in the Al-Qadir Trust case, the matter received increased attention. According to the complaint, Malik Riaz bribed Imran Khan with land while he was prime minister. Imran Khan, however, refuted the accusations, claiming that he and his spouse were merely trustees of the trust and were not aware of any personal benefit.
The case started when Malik Riaz’s British bank accounts and a £190 million house in a pricey part of London were frozen by the UK’s National Crime Agency (NCA) in 2019. The Pakistani government later received this sum under an arrangement. However, Pakistani officials claim that they illegally used the funds to pay Malik Riaz’s court costs instead of placing them in the national treasury.
Imran Khan and Malik Riaz have both denied any corruption in this matter. Through the NAB and FIA, the Pakistani government is now taking concrete action to make it easier for Malik Riaz to return to Pakistan so that the legal processes against him may continue.
The process has begun to bring Malik Riaz back to Pakistan from Dubai through Interpol.
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