Malik Riaz agrees for £190m settlement with UK investigators

'The assets will be handed over to the Pakistani government'

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Pakistani real estate tycoon Malik Riaz Hussain has agreed to hand over cash and assets worth £190 million to UK investigators.

The settlement includes a UK property, 1 Hyde Park Place, London, W2 2LH, valued at approximately £50 million, and all the funds in the frozen accounts.

“In August 2019, eight account freezing orders were secured at Westminster Magistrates’ Court in connection with funds amounting to £120 million. These followed an earlier freezing order in December 2018 linked to the same investigation for £20 million. All the account freezing orders relate to money held in UK bank accounts,” said UK’s National Crime Agency in a statement issued on Tuesday. “The assets will be given to the government of Pakistan.”

Hussain owns Bahria Town, which is one of the biggest private-sector employers in Pakistan and is the largest privately-owned property development firm.

2 COMMENTS

  1. The Incumbent Government of Imran Khan should take all illegal money from every corrupt politician , as they did with MR.

    Govt. Specially focus over the period 2008 to 2017, in which big fish done worked for their personal benefits by using public offices , still some of them are not get ride from such action.

    please give more attention toward Sindh areas.

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