Islamabad authorities launched a major operation against financial misconduct on Monday, as the Federal Investigation Agency (FIA) and National Accountability Bureau (NAB) conducted raids on Bahria Town offices, targeting alleged money laundering and illicit financial operations.
Raids Uncover Key Evidence
The coordinated raids in Islamabad focused on Bahria Town, a prominent real estate developer led by property tycoon Malik Riaz and his son, Ali Riaz. Authorities seized critical documents and detained several employees during the operation. According to FIA sources, the recovered records point to a complex network of illegal financial activities, including hawala-hundi transactions, a system used to transfer money informally across borders.
Investigators identified three major money laundering cases linked to Bahria Town:
- Rs. 1.58 trillion laundered between 2016 and January 2025.
- Rs. 1 billion moved illicitly from 2015 to March 2025.
- Rs. 24 billion funneled through illegal channels between 2005 and 2015.
These findings build on earlier NAB investigations into the company, prompting officials to revisit unresolved cases tied to the developer.
Benami Properties Under Scrutiny
The investigation also uncovered evidence of benami properties—assets held under false names to conceal ownership—allegedly tied to Bahria Town. These properties, valued at hundreds of billions of rupees, are now a key focus of the probe. The FIA and NAB are working to trace the origins of these assets and their connections to the broader financial network.
This development follows a pattern of scrutiny for Bahria Town, which has faced allegations of financial irregularities in the past. The reopened NAB files and fresh evidence gathered during the raids signal a renewed push to hold the company accountable.
Next Steps in the Investigation
Daily legal proceedings are set to begin next week, with both agencies vowing to pursue all leads thoroughly. “We are committed to following the evidence to its conclusion,” an FIA spokesperson said. The agencies aim to dismantle any illegal financial networks and ensure justice for violations uncovered during the investigation.
Broader Context
The operation comes amid growing efforts by Pakistani authorities to combat financial crimes, including money laundering and tax evasion, which have long plagued the country’s economy. Bahria Town, one of Pakistan’s largest real estate developers, has been under investigation for years, with this latest action marking a significant escalation.
What’s Next?
As the investigation unfolds, authorities are expected to release more details about the scope of the alleged financial misconduct. The outcome of the probe could have far-reaching implications for Pakistan’s real estate industry and efforts to strengthen financial oversight.
