Islamabad: The Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) have launched a decisive crackdown against one of Pakistan’s largest money laundering and hundi/hawala networks, allegedly linked to Bahria Town’s top leadership.
According to official documents, the joint investigation team of FIA’s Commercial Banking Circle and Anti-Money Laundering Circle uncovered extensive evidence of illegal transactions, front companies, and unregistered assets connected to Malik Riaz, his son Ali Riaz, and several senior Bahria Town executives.
Key Developments
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FIA has registered 17 FIRs related to illegal hundi/hawala and money laundering activities.
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At least 13 individuals have been arrested, including operators who directly managed financial channels for Bahria Town.
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FIA and NAB jointly raided Bahria Town Headquarters and Safari Town Hospital, recovering over 200 incriminating files, computer servers, laptops, mobile phones, and documents that allegedly contained records of massive financial irregularities.
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Forensic analysis of seized digital devices is underway, while billions in assets acquired through illegal means have already been identified and frozen.
Scale of the Money Laundering
Preliminary investigations revealed that over Rs. 25 billion worth of illegal transactions were routed through unauthorized financial channels, bypassing Pakistan’s legal banking system. The funds were transferred in multiple currencies, including US dollars, British pounds, and UAE dirhams, to destinations in the United Kingdom and the UAE.
Involved Individuals
The investigation has so far identified a network of Bahria Town officials and associates playing key roles. Among the names mentioned are:
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Malik Riaz – Chairman, Bahria Town
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Ali Riaz – CEO, Bahria Town
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Shahid Qureshi – Head of Global Affairs, Bahria Town
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Lt. Col. (R) Khalil-ur-Rehman – Secretary to Malik Riaz
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Aamir Rasheed – Chief Finance Officer
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Fazal Abbas – Director Accounts
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Atta-ul-Haq – Director Accounts
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Shafqat – Accounts Officer
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Mian Khurram Latif (Khurram Property Zone) – Main Investor
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Nazim Khadim (Nazim Khadim Associates) – Main Investor
NAB’s Parallel Action
NAB has reopened its old files on Bahria Town following new evidence. Investigators have uncovered three phases of money laundering between 2000 and 2025, totaling hundreds of billions of rupees:
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2016–2025: Rs. 158 billion
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2015–2020: Rs. 24 billion
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2021–2025: Rs. 11 billion
In addition, several benami properties worth hundreds of billions have been traced to Bahria Town, allegedly used to conceal illicit wealth.
Government Stance
Authorities emphasized that the crackdown is part of Pakistan’s broader strategy to dismantle illegal financial networks and ensure accountability. FIA confirmed that the agency remains committed to “bringing all individuals and institutions involved, regardless of their influence, before the court of law.”
Both FIA and NAB have intensified investigations and are expected to initiate daily legal proceedings from next week. Officials say more arrests and asset seizures are imminent as the probe widens.