An accountability court has issued arrest warrants for prominent property tycoon Malik Riaz, his wife Bina Riaz, son Ahmed Ali Riaz, and four others in connection with financial irregularities linked to the Mall of Islamabad project. The action follows a complaint filed by the National Accountability Bureau (NAB).

During the hearing, NAB prosecutors Manzoor Shah and Hana Ashraf presented a detailed report compiled by Muhammad Ramzan. The report contained extensive evidence and records against the accused, prompting the court to order the seizure of the Mall of Islamabad. The state of Pakistan now assumes control of the property, and official notifications for the confiscation have been issued.

The court instructed three of the accused to submit bail bonds of Rs. 500,000 each while directing authorities to strictly enforce arrest warrants against the remaining individuals. The seizure has been carried out under Section 8 of the Money Laundering Ordinance.

NAB’s investigation revealed that although the land was initially purchased in 2014 by Ayaz Khan and Waqar Rifat, Malik Riaz allegedly controlled the project through front companies, including Wiki Trading Company, owned by his brother Farhat Hussain and nephew Wasim Rifat.

Also Read: Ilhan Omar sprayed with unknown liquid at Minneapolis event

Previously, the District and Sessions Court of Islamabad had declared Malik Riaz and his son Ahmed Ali Riaz as fugitives for allegedly transferring Bahria Town funds abroad illegally. Their identity cards and mobile SIMs have been blocked, and NAB has emphasized that they must appear in court to face charges.

Officials have warned that failure to comply will result in the accused remaining fugitives. The accountability court’s decisive measures underscore Pakistan’s ongoing efforts to crack down on financial misconduct and enforce transparency in high-profile property and investment projects.