The National Accountability Bureau (NAB) has frozen four more high-value properties linked to Bahria Town in Karachi, Sheikhupura and Peshawar as part of an ongoing money laundering investigation.
According to officials, the action was taken on the directions of an accountability court under the Anti-Money Laundering Act, 2010. Investigators claimed the properties were allegedly developed through funds suspected to be linked with financial crimes.
One of the major properties attached is the Bahria Icon Tower located in Clifton, Karachi. NAB investigators alleged that around Rs8 billion in suspected illegal money was used in the construction of the project. Authorities said the tower was being managed through a private company identified as Galaxy Construction Pvt Ltd, which investigators described as a front company.
Another major property frozen by NAB is the Bahria Town Tower situated on Tariq Road in Karachi. Officials claimed the project was registered under the name of Muhammad Awais, who investigators described as a “benami” owner allegedly working on behalf of Bahria Town founder Malik Riaz Hussain and the company.
The operation was also expanded beyond Karachi. NAB attached 817 kanals of land in Sheikhupura and more than 2,000 kanals in Peshawar linked to Bahria Town Peshawar.
Investigators said the land was owned through Lifestyle Development (SMC) Pvt Ltd, which they alleged was being used to conceal ownership and facilitate the movement of suspected illegal funds.
Officials stated that the latest crackdown is part of NAB’s wider campaign against money laundering, hidden ownership structures and misuse of corporate entities for financial crimes.
