Pakistan’s top investigative agencies have turned up the heat on real estate giant Bahria Town, raiding its Islamabad offices on Monday in a sweeping crackdown on alleged financial crimes.
The Federal Investigation Agency (FIA) and National Accountability Bureau (NAB) conducted a joint operation, seizing sensitive records and detaining multiple staff members. Officials say the move is part of a long-running probe into money laundering, illegal property dealings, and hawala-hundi networks allegedly linked to Bahria Town founder Malik Riaz and his son, Ali Riaz.
Massive Money Trails Uncovered
Preliminary findings from the raid have unearthed staggering sums allegedly funneled through illegal channels over two decades. FIA sources claim Bahria Town is now facing three major money laundering cases:
- Rs. 1.58 trillion allegedly moved between 2016 and January 2025
- Rs. 1 billion laundered between 2015 and March 2025
- Rs. 24 billion traced back to operations between 2005 and 2015
The figures highlight the scale of the investigation, positioning it as one of Pakistan’s largest-ever financial crime probes.
Benami Assets and Reopened NAB Cases
Authorities say newly seized documents reinforce earlier cases already under NAB scrutiny. The bureau has since reopened all pending Bahria Town files, focusing on a web of benami (front) properties reportedly worth hundreds of billions of rupees.
This development marks an aggressive new phase in the state’s anti-corruption drive, with officials pledging daily legal proceedings starting next week.
Broader Crackdown on Illicit Finance
The operation underscores a wider government push to curb money laundering and undocumented wealth in Pakistan’s booming real estate sector. Bahria Town, long criticized for its opaque land acquisition practices, is now at the center of a potentially landmark investigation.
Authorities have vowed to pursue all leads “to their logical conclusion,” signaling that Malik Riaz and his network could face some of the most serious legal challenges in their decades-long dominance of the property market.
