Chairman of the National Accountability Bureau (NAB) Lieutenant General (Retd) Nazir Ahmad Butt, while briefing the media at NAB Headquarters stated that efforts are underway to secure the arrest and extradition of real estate tycoon Malik Riaz and his son Ali Riaz Malik.
Along with their associates, following their reported presence in Dubai.
He confirmed that Interpol has issued Red Notices against Malik Riaz and Ali Riaz Malik in connection with ongoing money laundering investigations.
The NAB chairman further disclosed that the alleged financial irregularities linked to Bahria Icon Karachi have witnessed a substantial escalation with the estimated scale of the fraud now ranging between Rs 400 billion and Rs 700 billion.
He warned that the figure could potentially increase further, reaching up to Rs 700 billion to Rs 1.4 trillion as investigations progress.
He added that NAB is pursuing the matter in accordance with due legal process, and all necessary steps are being taken to ensure accountability in the case.
