The National Accountability Bureau (NAB) has cautioned the public against investing in Bahria Town’s New Dubai project. NAB is reportedly taking legal action to extradite Malik Riaz from the UAE, citing allegations of fraud, illegal land acquisition, and deceptive practices in multiple cities across Pakistan. Additionally, NAB suspects the project may involve money laundering and has urged potential investors to exercise extreme caution. The bureau emphasized its commitment to protecting public interests and advised citizens to remain vigilant against high-risk ventures.
In response, Malik Riaz dismissed the accusations as baseless, labeling them an attempt at blackmail. He declared that he would not succumb to pressure and maintained his stance despite being declared an absconder in the Al-Qadir Trust case.
Riaz also defended the New Dubai project, claiming it would enhance Pakistan’s global image. Despite his assertions, NAB continues to warn the public, urging them to thoroughly investigate the project before committing any funds.
The situation has garnered widespread public attention, sparking debates over the project’s legitimacy and the accountability of those involved. NAB’s warning underscores the importance of transparency and due diligence in investment decisions, particularly for large-scale initiatives like this.
