Malik Riaz agrees for £190m settlement with UK investigators

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

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.”

Article continues after this advertisement

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

- Advertisement -

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.

Comments are closed.

- Advertisement -

Must Read

Govt announces new prices of petroleum products for fortnight

ISLAMABAD: The federal government announced on Friday new prices of petroleum products for a fortnight, which will be effective from August 1. Taking to Twitter, Dr...