NAB Freezes Bahria Town Properties in Major Money Laundering Probe
The National Accountability Bureau (NAB) Karachi has frozen more Bahria Town properties after receiving approval from an accountability court. Officials carried out the operation under the Anti-Money Laundering Act, 2010. Investigators say the properties were linked to the laundering of crime proceeds through front companies and “benami” owners.
Authorities launched the action after reviewing financial records and ownership details. As a result, NAB attached several high-value projects and land holdings connected to Bahria Town. Officials also stated that legal proceedings against the properties are currently underway.
NAB Attaches Key Projects in Karachi
NAB attacked the Bahria Icon Tower located in Clifton, Karachi, during the operation. Investigators found that nearly Rs8 billion in alleged crime proceeds were used in the tower’s construction. In addition, officials claimed the property operated under a front company named M/s Galaxy Construction Pvt Ltd.
Similarly, NAB attached the Bahria Town Tower on Tariq Road, Karachi. Investigators alleged that Muhammad Awais held the project as a “benami” frontman for Malik Riaz Hussain and M/s Bahria Town. Therefore, authorities included the tower in the ongoing money laundering investigation. Authorities
Freeze Land Holdings in Punjab and Khyber Pakhtunkhwa
The operation also expanded beyond Karachi. NAB froze 817 kanals of prime land in Sheikhupura linked to Bahria Town interests. Moreover, investigators attached 2,029 kanals of land in Peshawar intended for Bahria Town Peshawar.
Officials identified M/s Lifestyle Development (SMC) Pvt Ltd as another front company involved in the case. According to investigators, these entities helped move illicit funds through large-scale property investments.
Meanwhile, NAB said the operation reflects its commitment to tracing illegal assets and ensuring accountability. Investigators continue to examine financial transactions and ownership records linked to the Bahria Town properties.
