Sie sind auf Seite 1von 2

Malik Riaz evaded Rs56b taxes: Suddle report | The Nation

12/7/12 6:26 PM

Malik Riaz evaded Rs56b taxes: Suddle report


ISLAMABAD Real estate tycoon Malik Riaz is the biggest tax evader in the history of Pakistan who has evaded taxes of Rs56 billion, Suddle Commission report revealed. Malik Riaz claimed to have assets of $2.5 billion on August 31, 2010 during an interview with a foreign TV channel. However, assets declared by him in wealth statement on June 30, 2011 were worth of Rs0.58 billion. It means Riaz has evaded Rs56.104 billion of taxes, says the report compiled by the one-man commission probing Riaz-Arsalan case. According to the report, submitted to the Supreme Court on Wednesday, the property tycoon has three undeclared bank accounts in Bank of Punjab, UBL and HBL. The commission told the apex court that non-cooperation of Malik Riaz and other key witnesses hampered commissions probe. The report states real motive behind Malik Riazs plan was to defame the chief justice and the superior judiciary. Malik Riaz alleged that Arsalan Iftikhar had cheated and defrauded him, besides availing illegal benefits. He said that Arsalan, asserting his position as the son of chief justice of Pakistan, pressurised him and forced him to make an investment of Rs342 million for him.However, Riaz could only give an account of Rs5 million which he spent for Arsalan. No supporting evidence has been given by Malik Riaz of the money he claimed to have spent on Arsalan, except an account to of Rs5 million, the report says. It says that Arsalan Iftikhar availed logistics support of roughly Rs5 million through Khalil Ahmed but the
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-on/national/07-Dec-2012/malik-riaz-evaded-rs56b-taxes-suddle-report Page 1 of 2

Malik Riaz evaded Rs56b taxes: Suddle report | The Nation

12/7/12 6:26 PM

amount was paid back. Arsalan admitted to have availed logistic support of Rs5 million. However, he paid back the amount through cheque and presented a copy of the cheque issued to Zaid Rehman who presumably provided all logistic support to Arsalan Iftikhar on behalf of Ahmed Khalil, son-in-law of Malik Riaz.The report reveals that commission contacted the authorities concerned in the UK, asking legal assistance to ascertain the net worth of assets including money held in banks. The commission in his report requested the apex court to ask Malik Riaz to produce all his evidence, along with witnesses as soon as possible. If Riaz fails to do so, the commission will be allowed to conclude its findings on the basis of available evidence, the Suddle commission pleaded to the court.The report mentions that the Interior Ministry did not cooperate with the commission and despite repeated requests, the ministry did not place the names of the accused on the ECL. The Interior Ministry irritated the commission by transferring those FIA officials whose services were sought by the commission, the SC was told.

http://www.nation.com.pk/pakistan-news-newspaper-daily-english-on/national/07-Dec-2012/malik-riaz-evaded-rs56b-taxes-suddle-report

Page 2 of 2