MNN (Web-Desk); Property tycoon Malik Riaz remains out of the public eye as Pakistani authorities intensify investigations into a high-profile $190 million money laundering case. According to Financial Times, Dawn, and other media outlets, Riaz has been residing in Dubai since 2023, coinciding with heightened accountability actions against him and the repatriation of £190 million from the UK to Pakistan.
Earlier this year, Pakistan cancelled Riaz’s passport, raising questions over his legal status in the UAE and the feasibility of compelling his return. While rumours of him holding another nationality persist, official records show no evidence of dual citizenship. Pakistani law prohibits dual nationality with the UAE, and his name does not appear on any public foreign citizenship registers.
The investigation took a dramatic turn last week when authorities recovered sensitive financial documents from Safari Hospital in Islamabad, allegedly linking Riaz and his associates to shell companies, offshore accounts, and questionable transactions. Officials describe the evidence as crucial to uncovering the scale of irregularities tied to the Bahria Town empire.
Despite Pakistan and the UAE having mutual legal assistance agreements, the absence of an extradition treaty complicates any bid to bring Riaz back. Legal experts note that such a move would require court-issued warrants, solid evidence, and diplomatic assurances—none of which have been publicly initiated.
Meanwhile, the Federal Investigation Agency is reportedly weighing an Interpol Red Notice request, following a Pakistani court’s declaration of Riaz as a proclaimed offender. While such a notice can lead to temporary detention abroad, it does not guarantee extradition and may be rejected if deemed politically motivated.
For now, Riaz’s continued absence and silence from his legal team fuel perceptions that he is evading justice. Whether the billionaire will eventually be brought back to face trial or remain shielded overseas is an open question.
