Islamabad/Dubai, November 10, 2025: The Islamabad High Court (IHC) has ordered a fresh investigation into a case involving an alleged ransom demand of 50 bitcoins, valued at over Rs1.42 billion, from real estate tycoon Malik Riaz, coupled with threats to harm his family in Pakistan and abroad.
According to court documents, the IHC set aside an earlier order of a Judicial Magistrate (Section 30) that had dismissed the case. Justice Muhammad Asif, while allowing writ petition No. 1346/2025 filed by Colonel (retd) Khalil-ur-Rehman, directed that the matter be reinvestigated under Section 173 of the Criminal Procedure Code (CrPC).
The court observed that the earlier process was “hasty and non-transparent,” and ordered authorities to conduct a lawful and comprehensive inquiry.
FIR No. 117/25 was registered on January 29, 2025, at the Aabpara Police Station under Section 506 of the Pakistan Penal Code (PPC), which deals with criminal intimidation. The complaint was lodged by Col (retd) Khalil-ur-Rehman, who serves as Malik Riaz’s security officer.
The FIR alleged that an unidentified person had sent an email on January 12, 2025, at 4:15pm, demanding 50 bitcoins as ransom and threatening to harm Malik Riaz and his family if the demand was not met.
“If the demand is not met, Malik Riaz and his family members will be in danger,” the email read, attaching a bitcoin wallet address.
The threatening message also referenced family members residing in Gulf countries and Western states, warning:
“If you want to save these family members’ lives, then transfer 50 bitcoins to the given address, otherwise the mujahid of Tehrik isn’t far away from your drawing rooms.”
The FIR further stated that shortly after the email was sent, an unknown individual was seen near the residence of Malik Riaz’s daughter — a home also frequented by the tycoon himself.
“The individual took photos and videos of the house. Footage has emerged showing a person surveying the property, which caused distress to the family,” the FIR said.
Although the email address appeared to originate from Switzerland, investigators noted that the combination of digital traces and on-ground surveillance activity suggested the sender may have been operating from within Pakistan.
A cancellation report was prepared on February 4, 2025, but the high court noted that the trial court had proceeded with dismissing the case even though the complainant did not appear on the fixed date. Justice Asif ruled that the lower court’s handling of the case lacked due process and transparency.
The IHC subsequently ordered a fresh investigation to determine the source of the email, verify potential suspects, and ensure that the threats to Malik Riaz and his family are fully examined.
