The National Accountability Bureau (NAB) Karachi has taken a significant step in its ongoing money laundering investigation by freezing approximately $4.5 million held in foreign bank accounts connected to Bahria Town.
The frozen funds were traced to accounts in Mauritius, specifically at Silver Bank, and are registered under the names of Ahmad Ali Riaz and Mubashira Ali Malik, who are accused in the case.
This action was carried out under the Anti-Money Laundering Act, 2010, following approval from the Accountability Court in Karachi. Investigators revealed that the money was transferred abroad via hawala and hundi networks, initially routed through the United Arab Emirates before being moved to Mauritius through suspected laundering channels.
The amount was deposited into joint foreign bank accounts, which now collectively hold around $4.5 million, all of which have been frozen by the authorities. Meanwhile, formal legal steps have been initiated through the Ministry of Foreign Affairs to address the matter at the international level.
Officials noted that the process for seizing and repatriating the frozen funds back to Pakistan is nearing completion. This development highlights NAB’s persistent efforts to trace and recover allegedly illicit assets spread across various jurisdictions.
Through enhanced international cooperation, Pakistan aims to secure the return of wealth believed to have been unlawfully acquired and held overseas.
