Corruption of Builders

News

Dawn

SC rejects Bahria Town’s plea seeking delay in payment of land price for 3 years

The Supreme Court on Wednesday rejected an application of Bahria Town (Pvt) Ltd Karachi (BTLK) seeking a three-year delay in the payments of the total Rs460 billion that it had agreed to pay for purchasing prime land in Karachi. In its plea filed on Tuesday, BTLK had sought freezing of the payment plan issued by the SC in view of ...
MMNews

Rs9bn plea bargain approved against Bahria Town director

ISLAMABAD: The accountability court of Islamabad has approved plea bargain of Bahria Town’s director Zain Malik for over Rs9 billion plea with the National Accountability Bureau (NAB). NAB Chairman Javed Iqbal chaired a meeting to review the performance of NAB Rawalpindi office attended NAB Deputy Chairman Hussain Asghar, Prosecutor General for Accountability (PGA) Syed Asghar Haider, DG (operations) Zahir Shah ...
Dawn

Contempt petition filed in SC against Bahria Town management

ISLAMABAD: A lawyer moved a contempt petition before the Supreme Court on Monday, accusing the management of Karachi’s Bahria Town of violating a judgement of the apex court issued on March 21 last year. The petition was filed by Hafiz Arfat Ahmed Chaudhry against Malik Riaz Hussain, chairman of Bahria Town Karachi (BTK), his son Ahmed Ali Riaz, Bina Riaz ...
Daily Times

NAB files reference against Malik Riaz in Rs100bn land scam

The National Accountability Bureau (NAB) has filed a reference against business tycoon Malik Riaz and many others for unlawful allocation of an amenity plot in the Clifton section of Karachi, where Pakistan’s highest building the Bahria Icon Tower, was constructed. The reference is said to be an offshoot of the case of the fraudulent account case against former president and ...
Naya Daur

Malik Riaz Acquired Land For Bahria Town Karachi By Manipulating State Apparatus, PPP

In a recent investigation by Daily Dawn into the real estate empire of Bahria Town Karachi (BTK) and its fabulously wealthy owner Malik Riaz, some more disturbing news has come to light. BTK is described as the largest housing project in all of South Asia, and the land for it appears to have been acquired through access to the state apparatus and its ...
TRTWorld

Why is the Pakistani media silent about this real estate tycoon?

Malik Riaz has paid $250 million as part of a settlement with Britain’s money laundering investigating agency. Most news anchors won’t speak his name during their programmes. A guest in a talk show was muted every time he mentioned his name. Mainstream newspapers ran cautious stories. Forget opinions and investigative features. The story is about Malik Riaz, a Pakistani real ...
Arab News

Lessons from the multi-million pound Malik Riaz settlement

The United Kingdom’s National Crime Agency last week agreed to a settlement of GBP 190 million with Malik Riaz of Bahria Town fame regarding an investigation into his wealth holding in the UK, which is believed to be derived from corruption. This development is important on several counts. The PTI government had been on a mission since day one of ...
aljazeera

Pakistan tycoon hands over $248m to settle UK corruption probe

UK’s National Crime Agency says assets and cash frozen in the country will be handed over to Pakistani government. Malik Riaz Hussain, a Pakistani real estate tycoon, has agreed to hand over 190 million pounds (approximately $248m) held in the United Kingdom to settle a corruption investigation. Hussain, one of Pakistan‘s richest and most powerful businessmen and one of the ...
The Guardian

Pakistani tycoon agrees to hand over £190m to UK authorities

Nine freezing orders secured against Malik Riaz Hussain in ‘dirty money’ investigation. More than £190m of assets, including a £50m mansion overlooking Hyde Park in London, have been seized from a Pakistani property tycoon after a settlement in a UK police “dirty money” investigation. On Tuesday, the National Crime Agency said Malik Riaz Hussain had agreed to the multimillion-pound settlement that ...
Economic Times

Pakistan’s former Army Chief Ashfaq Pervez Kayani accused of being involved in defence land scam

ISLAMABAD: Pakistan's former Army Chief Gen (Retd) Gen Ashfaq Pervez Kayani has been accused by another senior officer of being involved in a major land scam in a defence housing scheme to benefit a real estate company. A former official of the Defence Housing Authority (DHA), Lt Col (Retd) Tariq Kamal on February 22 approached the anti-corruption watchdog National Accountability ...