NAB initiates probe into money laundering charges against Malik Riaz, family

The National Accountability Bureau (NAB) has launched an investigation into money laundering charges against Pakistan's biggest real estate giant Malik Riaz and his family, 24NewsHD TV reported on Friday. 

In this regard, NAB has initially summoned four people, including Malik Riaz’s son Ali Riaz, on August 26. NAB has also issued summons to Khalil-ur-Rehman, Muhammad Ishaq and Aamir Rashid Awan. 

NAB has summoned all these accused to its Rawalpindi office at 10am on August 26. They are accused of laundering huge amounts of money. 

NAB has started this investigation under the Prevention of Money Laundering Act 2010. 

Malik Riaz, the founder of Bahria Town, was born on February 8, 1954 (age 71). He began his career as a clerk at a construction company (MES) in Rawalpindi. During the 1980s, he transitioned into the role of a contractor.

In 1995, his construction firm, Hussain Global, signed an agreement with the Pakistan Navy's charitable trust, Bahria Foundation, to develop a gated community for naval personnel — a project that would later evolve into Bahria Town.

Reporter: Usman Khan