The National Accountability Bureau (NAB) Karachi on Monday transferred physical possession of four confiscated properties valued at Rs348 million to the Ministry of Housing and Works. The transfer follows the conviction of former Member of the National Assembly Abdul Aziz Memon and his wife Farida Aziz Memon in a corruption and assets beyond known sources of income case.
Conviction and Legal Proceedings
According to NAB, the properties were confiscated after the Accountability Court, Sindh, convicted Abdul Aziz Memon and Farida Aziz Memon. Each was sentenced to seven years’ rigorous imprisonment, fined Rs1 million, and ordered to forfeit four immovable properties to the Government of Pakistan. The convicts challenged the verdict in the Sindh High Court and later the Supreme Court of Pakistan, but both appeals were dismissed, finalizing the conviction.
Properties Handed Over
Following the completion of legal proceedings, NAB Karachi took physical possession of the assets, which include properties in DHA Karachi, KDA Scheme-1A Extension, and Hawksbay Scheme-42 under the Lyari Development Authority. The formal handover occurred during a ceremony at NAB Karachi headquarters, where DG NAB Karachi Shakeel Ahmed Durrani transferred the properties to Director General Estate Ubaid U Din.
Commitment to Accountability
Durrani reaffirmed NAB’s commitment to recovering assets acquired through corruption, safeguarding the national exchequer, and ensuring accountability under the leadership of NAB Chairman Lieutenant General (Retd) Nazir Ahmed. The bureau continues its nationwide operations against corruption and drug trafficking, with the Anti-Narcotics Force (ANF) arresting nine suspects and seizing over 55 kg of drugs in separate operations.
