Pakistan’s government has auctioned properties of top real estate tycoon Malik Riaz Hussain after a government agency failed to extradite him from the United Arab Emirates where he lives in self-exile.
The anti-graft agencies auctioned three commercial properties and recovered 2.3 billion rupees ($8 million) in an attempt to recover defaulted funds, according to a statement by the National Accountability Bureau. The agency will try to sell three more properties later after they failed to attract enough bids, said the statement. Hussain’s lawyer Farooq Naik didn’t respond to phone calls for a comment.