Peshawar, June 18, 2025— Accountability Court Upholds NAB’s Asset Freezing Orders in Rs30 Billion Kohistan Corruption Scandal. In a major breakthrough in the Kohistan corruption scandal, the Accountability Court in Peshawar has upheld the National Accountability Bureau’s (NAB) freezing of 38 properties linked to Mohammad Riaz, a former National Bank of Pakistan (NBP) cashier-turned-contractor and his close family members. This ruling marks a significant milestone in the investigation of an alleged embezzlement of over Rs30 billion from the Upper Kohistan district accounts office.
Court Freezes Properties, Vehicles to Prevent Tampering
Acting on two separate orders issued by NAB Khyber Pakhtunkhwa’s director general on May 9 and May 12, 2025, the court confirmed the freezing of assets under Section 12 of the National Accountability Ordinance, 1999. The seized assets include 31 immovable properties, commercial plazas, plots, residences, and a farmhouse, primarily located in Islamabad. Authorities registered these properties under the names of Riaz, his wife Hussan Bibi, daughter Safia Riaz, and six of his brothers.
Moreover, the court froze seven vehicles, most notably registered in the name of Riaz’s brother, Hizbur Rehman. Given the apparent risk of asset concealment or transfer, the court therefore appointed the Deputy Commissioners of Islamabad and Rawalpindi as receivers. These officials will now be responsible for safeguarding the properties, managing any income generated, and maintaining separate accounts for each asset connected to the scandal.
NAB Uncovers Complex Web of Financial Fraud
During the court hearings, NAB’s special prosecutor, Habibullah Baig, further presented compelling evidence. According to him, officials from the Communication and Works (C\&W) Department, the district accounts office, and NBP allegedly worked together to misappropriate public funds. Specifically, they created fictitious development projects and orchestrated bogus withdrawals to siphon off billions of rupees into private accounts.
In addition, Baig explained that Riaz, who joined NBP in 2006–07 and resigned in 2021, had systematically established fake construction companies under the names of his relatives. Using this network, he funneled the embezzled funds, which were later laundered through multiple bank accounts. Eventually, he invested the proceeds into high-value properties, the value of which clearly exceeded his declared sources of income.
Political Fallout Deepens as Probe Widens
In a significant twist, NAB has issued a notice to Pakistan Tehreek-e-Insaf (PTI) leader Azam Khan Swati, suspecting his involvement in the case. Reliable sources claim that investigators traced millions of rupees to Swati’s bank account. In response, NAB has collected key financial records from Torghar and is now scrutinizing Swati’s brother, Laeeq Khan, along with several others potentially linked to the scandal.
As the investigation gains momentum, the likelihood of Swati’s arrest has increased, signaling broader political ramifications. With each passing day, the Kohistan corruption scandal continues to unfold, promising more high-profile disclosures and a deepening legal storm.
