The Financial Daily

Friday, February 28, 2025

Top 5 This Week

Related Posts

Passports of Four Suspects Blocked in £190m Corruption Case

ISLAMABAD: The Ministry of Interior has blocked the passports of four key individuals wanted in the £190 million corruption case, following a request from the National Accountability Bureau (NAB).

Individuals Affected

The four suspects whose passports have been blocked are:

  1. Malik Riaz – Chairman, Bahria Town
  2. Ali Riaz – Son of Malik Riaz
  3. Shehzad Akbar – Former Adviser to the PM on Accountability
  4. Farah Shehzadi – Close associate of the former First Lady

Extradition Plans Underway

  • Malik Riaz and Ali Riaz are currently in the UAE, and NAB has initiated efforts for their extradition.
  • NAB officials are in contact with UAE authorities, and sources suggest that Riaz may be deported under international anti-money laundering laws and the Vienna Convention.
  • The Federal Investigation Agency (FIA) Interpol Wing has stated that it has not yet received a formal extradition request from NAB. However, NAB has the authority to apply directly to Interpol headquarters.

Background of the Case

The £190 million case involves allegations of money laundering and illegal financial transactions linked to high-profile political figures and business elites. Malik Riaz and his son are accused of financial misconduct and corruption in real estate dealings.

Next Steps

  • Interpol involvement is expected once NAB officially submits a request for extradition.
  • NAB is actively coordinating with international law enforcement agencies to bring the suspects back to Pakistan.
  • Legal proceedings are underway to recover the embezzled funds.

This move marks a significant step in Pakistan’s accountability efforts, targeting powerful individuals involved in financial corruption.

Popular Articles