An accountability court in Islamabad has acquitted Zain Malik, son-in-law of property tycoon Malik Riaz, in six corruption cases after the suspect agreed to pay Rs9.5 billion under a plea bargain.
Malik was facing cases pertaining to fake accounts of Pink Residency, Illegal Allotment, and Mega Money Laundering.
During the court proceedings, Accountability Court judge Mohammad Bashir took up applications of Malik seeking acquittal in three under-trial cases and approved them, reported Dawn.
According to the report, Malik, who participated in proceedings via videolink from his UK residence, accepted to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in quarterly installments over the period of three years.
The son-in-law of Malik Riaz is also facing a case concerning the Icon Tower in Karachi. He, however, has to formally plead for acquittal under the plea bargain in this case.
Malik was facing cases pertaining to fake accounts of Pink Residency, Illegal Allotment, and Mega Money Laundering.
During the court proceedings, Accountability Court judge Mohammad Bashir took up applications of Malik seeking acquittal in three under-trial cases and approved them, reported Dawn.
According to the report, Malik, who participated in proceedings via videolink from his UK residence, accepted to mortgage his six properties and pay Rs4 billion in one case, Rs170 million in another and Rs37 million in the third case to NAB, Rawalpindi Directorate, in quarterly installments over the period of three years.
The son-in-law of Malik Riaz is also facing a case concerning the Icon Tower in Karachi. He, however, has to formally plead for acquittal under the plea bargain in this case.