Law enforcement agencies on Monday stepped up action against financial crimes as the Federal Investigation Agency (FIA) and the National Accountability Bureau (NAB) carried out joint raids at Bahria Town offices in Islamabad, seizing important records linked to ongoing probes into money laundering and illegal financial dealings.
FIA officials confirmed that the raids resulted in the recovery of sensitive documents and the arrest of several Bahria Town employees.
Initial findings suggest the existence of a large hawala-hundi and money laundering network allegedly connected to property tycoon Malik Riaz and his son, Ali Riaz.
The FIA revealed three major money laundering cases against Bahria Town: laundering of Rs1.58 trillion between 2016 and January 2025, Rs1 billion between 2015 and March 2025, and Rs24 billion between 2005 and 2015.
Authorities said the evidence recovered supports earlier cases already under NAB review, prompting the bureau to reopen all pending files involving the housing developer.
Investigators also uncovered details of benami (front) properties allegedly linked to Bahria Town, valued in hundreds of billions of rupees.
Both FIA and NAB have now accelerated their investigations and plan to begin daily legal proceedings next week.
Officials assured that all unlawful activities tied to these cases will be taken to their “logical conclusion.”