In a significant development, the Accountability Court of Islamabad has issued orders to freeze the assets of renowned property tycoon Malik Riaz Hussain and his son Ahmed Ali Riaz. The action comes in response to their alleged involvement in a 190-million-pound corruption case.
Accountability Court Freezes Malik Riaz’s Assets, Properties, Bank Accounts, and Vehicles
The accountability judge, Mohammad Bashir, has directed the freezing of movable and immovable properties, bank accounts, and vehicles belonging to Malik Riaz Hussain and Ahmed Ali Riaz. This measure is part of the ongoing legal proceedings related to the corruption case.
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Seizure of Immovable Properties Nationwide
Taking a comprehensive approach, the Accountability Court has instructed revenue officers nationwide to seize the immovable properties of the proclaimed offenders. The directive also extends to Excise and Taxation Officers (ETOs), ensuring that vehicles are not transferred to the accused or any other party on their behalf.
Commercial Banks Ordered to Freeze Accounts
Commercial banks have been specifically instructed to freeze the accounts of Malik Riaz Hussain and Ahmed Ali Riaz. Transactions and withdrawals from these accounts are prohibited until further orders from the court.
Proclamation of Offenders
The court order emphasizes that Malik Riaz and Ahmed Ali Riaz have been declared proclaimed offenders as of January 6, 2024. This declaration follows the completion of all legal proceedings and proclamation notices, as the accused individuals have failed to appear before the court.
NAB Authority Takes Control
To enforce the freezing and seizure directives, the National Accountability Bureau (NAB) Authority, through the Additional Director/Incharge RMDC NAB, is empowered to seize vehicles and act as the receiver for immovable properties. The court has explicitly appointed the Additional Director/Incharge RMDC NAB to ensure compliance with the legal measures.
Conclusion
The accountability court’s order, issued on January 12, 2024, signifies a significant step in the pursuit of justice in the corruption case involving Malik Riaz Hussain and Ahmed Ali Riaz. The appointed receiver is expected to take swift action in accordance with the law, with a compliance report mandated within seven days.
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