Malik Riaz and Son Face Proclamation Proceedings in Islamabad Money Laundering Case

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Islamabad’s Additional District and Sessions Judge Nasruminallah Baloch has ordered the initiation of proclamation proceedings against Bahria Town founder Malik Riaz and his son, Ali Riaz Malik, in two high-profile cases linked to alleged money laundering.

During Saturday’s hearing, the court decided to formally move towards declaring the real estate tycoon and his son as absconders. Proceedings have been adjourned until September 30, giving the accused another chance to appear before the court.

Key Developments in the Case

The court recently distributed copies of the challan among three other accused individuals connected to the matter. These include retired Colonel Khalilur Rehman, a personal staff officer of Malik Riaz, as well as Mushtaq and Imran.

• Colonel Rehman received his challan in person.
• Mushtaq appeared physically before the court.
• Imran’s attendance was recorded via video link, with his physical presence expected in the upcoming hearing.

The Federal Investigation Agency’s (FIA) money laundering wing registered the case, accusing the suspects of illegally transferring billions of rupees abroad to finance Malik Riaz’s real estate projects, particularly in Dubai.

FIA Findings and Government Allegations

The case intensified after Information Minister Attaullah Tarar disclosed what he described as incontrovertible proof of large-scale money laundering and corruption by Malik Riaz and his company.

He revealed that FIA officials raided Safari Hospital in Rawalpindi, which was allegedly being used as a front office to hide cash and sensitive records. In a shocking revelation, ambulances belonging to the hospital were reportedly used to transport money and documents in order to avoid suspicion.

According to the minister, investigators unearthed evidence of at least Rs1.12 billion being laundered through illegal means. The inquiry also connected Bahria Town’s chief financial officer and finance director with hawala and hundi operators who specialize in sending funds abroad.

Officials further alleged that some Bahria Town employees attempted to destroy crucial documents during the raid. However, investigators were able to secure the majority of records for forensic examination.

Impact on Bahria Town and Residents

The government has clarified that the ongoing inquiry specifically targets Malik Riaz, his family, and company officials. Residents and property holders in Bahria Town have been assured that they are not the focus of this investigation.

Despite these assurances, the case has created uncertainty within Pakistan’s real estate sector. Malik Riaz, once considered the most powerful property developer in the country, is now facing multiple legal and financial challenges that may affect future projects and investor confidence.

Islamabad at the Center of Legal Proceedings

With hearings continuing in Islamabad, this case has drawn widespread national and international attention. It highlights growing government efforts to clamp down on money laundering and financial misconduct within Pakistan’s real estate sector.

Legal experts suggest that the proclamation proceedings ordered by the Islamabad court could pave the way for further action if Malik Riaz and his son fail to appear in upcoming hearings.

Final Thoughts

The unfolding developments in Islamabad against Malik Riaz and Ali Riaz Malik represent one of the most significant money laundering cases in Pakistan’s history. As the FIA probe deepens and court hearings continue, the outcome of this case will likely shape the future of accountability and transparency within Pakistan’s property market.