IHC orders fresh probe into Rs1.42bn ransom threat to Malik Riaz

ISLAMABAD/DUBAI: The Islamabad High Court (IHC) has ordered a fresh investigation into an FIR alleging that an unknown person demanded 50 bitcoins -- worth over Rs1.42 billion -- from property tycoon Malik Riaz as ransom and threatened harm to his family in Pakistan and abroad if the demand was not met.

According to papers, the IHC has set aside an order of the Judicial Magistrate (Sec-30), that had dismissed the case. Justice Muhammad Asif allowed Writ Petition No 1346/2025 filed by Col (R) Khalil-ur-Rehman and remanded the matter for a proper investigation under Section 173 CrPC.

The FIR No. 117/25 was registered on Jan 29, 2025 under s.506 PPC (criminal intimidation). The case file includes screenshots and headers of emails referencing Malik Riaz and Bahria Town, and a demand for 50 bitcoins coupled with threats.

A cancellation report was prepared on Feb 4, 2025. Despite the complainant’s non-appearance on the date fixed, the trial court proceeded and passed the impugned order. The High Court found the process hasty and non-transparent and directed a fresh, lawful inquiry.

Malik Riaz’s security officer Colonel (R) Khalil Ur Rehman had filed a case at Islamabad’s Aabpara police station against an unknown person for threatening to kill the real estate magnate.

As per the widely circulated FIR, an email was sent to Malik Riaz on January 12 at 4:15pm, demanding 50 bitcoins, equivalent to over Rs1.42 billion, as ransom. “If the demand is not met, Malik Riaz and his family members will be in danger,” the FIR said, attaching the evidence of threat received on email.

The email states that relatives of Malik Riaz and his son Ahmed Ali live in Gulf countries and in the West. “If you want to save these family members life’s (sic).......then transfer 50 bitcoins to given bitcoin address otherwise mujahid of Tehrik isn’t far away from your drawing rooms,” the email stated.

The FIR states that after the threatening email was sent, an unknown person visited the area where Malik Riaz’s daughter resides, which is also the residence where he himself stays, to scout the house.

“The individual took photos and videos of the house. Footage has emerged showing a person taking pictures and videos while surveying Malik Riaz’s home, which harassed the household,”it read.

The FIR states that although the email ID appeared to be from Switzerland, however, demanding ransom through a threatening email and scouting the house confirmed that the email was sent from Pakistan.