The Islamabad High Court (IHC) has mandated a new investigation into an extortion case targeting property tycoon Malik Riaz. The First Information Report (FIR) alleges an unidentified person demanded a ransom of 50 bitcoins, valued at over Rs 1.42 billion, and threatened harm to Riaz’s family.
Justice Muhammad Asif set aside a prior order from a judicial magistrate that had dismissed the matter. The court ruled the case must be reinvestigated properly under Section 173 of the Criminal Procedure Code (CrPC).
The case was originally registered at Islamabad’s Aabpara police station on January 29, 2025. The FIR states that a threatening email was sent to Malik Riaz on January 12, demanding a massive bitcoin payment.
The email contained explicit threats against Riaz and his family members, both in Pakistan and abroad. It specifically mentioned that “mujahid of Tehrik” were not far away if the demand was not met.
Read: Malik Riaz Denies NAB Claims and Expands Business with Dubai Project
Furthermore, the FIR included evidence of a person scouting and taking photos of Riaz’s residence, which heightened security concerns for the household.
The high court found the initial investigative process to be rushed and lacking transparency. A cancellation report was prepared just days after the FIR was filed, and the magistrate dismissed the case despite the serious nature of the allegations.
By allowing the writ petition, the IHC has ensured the case will now receive a thorough and lawful inquiry to uncover the facts.
