The National Accountability Bureau (NAB) on Monday frozen hundreds of bank accounts and seized vehicles and properties linked to Bahria Town across multiple cities, including Karachi, Lahore, and Islamabad.

According to a statement issued by NAB, the anti-graft watchdog has sealed multi-storey residential and commercial properties in Golf City, Islamabad, New Murree, and Takt Padi, citing legal action to protect the rights of citizens affected by alleged fraudulent transactions.

NAB officials revealed that several cases of financial mismanagement, land fraud, and money laundering are under investigation against Bahria Town Pakistan. Authorities claim to have gathered substantial evidence indicating that funds are being transferred abroad to finance Malik Riaz’s Dubai-based real estate ventures.

“Any funds transferred from Pakistan to support these projects will be considered money laundering, and strict legal action will be taken against those involved,” a NAB spokesperson said, urging the public to be cautious of Bahria Town’s ongoing offers.

Additionally, NAB has launched a crackdown on fugitive suspects linked to Bahria Town’s financial dealings, with efforts underway to bring them back to face legal proceedings in Pakistan.

The development comes amid increased scrutiny of high-profile real estate ventures accused of misleading investors and engaging in financial misconduct.

Malik Riaz, a prominent figure in Pakistan’s real estate sector, has long denied allegations of wrongdoing, but NAB maintains that its investigations are based on solid evidence.