The National Accountability Bureau (NAB) Karachi has frozen two foreign bank accounts in Mauritius linked to the management of Bahria Town as part of an ongoing investigation into alleged money laundering and the transfer of illicit assets abroad.
According to details, the accounts valued at approximately $4.5 million are held in Silver Bank, Mauritius, under the names of accused individuals Ahmed Ali Riaz and Mubashira Ali Malik. The action was taken after obtaining formal approval from the Accountability Court Karachi under the Anti-Money Laundering Act, 2010.
NAB stated in its official announcement that Bahria Town Private Limited allegedly used an illegal hawala/hundi network within Pakistan to transfer proceeds of crime abroad. These funds were first routed to the United Arab Emirates and subsequently transferred to Mauritius, where they were deposited into joint bank accounts.
The bureau further confirmed that around $4.5 million is currently held in these accounts, which have now been legally frozen. The move is part of efforts to trace and recover allegedly illegally transferred assets from abroad.
NAB also said that legal proceedings for the confiscation and repatriation of the funds are ongoing through the Ministry of Foreign Affairs and relevant international institutions, and the case has entered its final stages under the Anti-Money Laundering Act, 2010.
In its statement, NAB described the action as a significant development in its campaign against international financial crimes, adding that it will continue efforts, in cooperation with global partners, to trace and recover illegal assets worldwide.
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