ISLAMABAD: An accountability court has taken significant action in a high profile corruption case, issuing non-bailable arrest warrants against prominent real estate tycoon Malik Riaz, his family members and several associates, and ordering the seizure of the Mall of Islamabad property in connection with alleged financial irregularities and fraud.
The warrants were issued following a formal complaint filed by the National Accountability Bureau (NAB), which presented a detailed investigation report in court. NAB prosecutors submitted evidence and records showing that, after extensive probes, sufficient grounds existed to pursue legal action against the suspects named in the corruption reference.
The court also ordered that the Mall of Islamabad, a major commercial property linked to the Riaz business group, be taken into custody and confiscated in favour of the government. Official notifications of the property’s seizure have been issued to relevant authorities for implementation.
In addition to Malik Riaz, the arrest warrants name several other individuals, including members of his family and company management, in connection with the case involving alleged financial misconduct, fraudulent housing schemes and misuse of funds. Police have been directed to execute the warrants and ensure the accused are brought before the court.
During proceedings, the court granted bail bonds of Rs5 million each for three of the accused who appeared and complied with judicial orders. However, warrants remain active for others who failed to appear or respond to summons, and law enforcement has been instructed to proceed with arrests.
NAB officials said the action forms part of ongoing efforts to recover assets and hold those responsible for large scale financial irregularities accountable. The bureau has alleged that multiple cases involving illegal land acquisition and fraud are under investigation against Riaz and others.
The court emphasised that all parties will be given a fair opportunity to present their defence in accordance with the law, but warned that enforcement of its orders will be pursued strictly without delay.
