LONDON: The National Crime Agency and Pakistani officials confirmed on Wednesday that the money obtained through a settlement with Malik Riaz has been transferred to Pakistan.
On December 3, the NCA said that it agreed to a settlement of £190 million or Rs38 billion with Malik Riaz’s family and it will be returned to the Pakistani government.
Shahzad Akbar, PM Imran Khan’s special assistant on accountability, confirmed that the money has been transferred.
The real estate tycoon and one of the biggest private sector employers in Pakistan, Riaz, was facing an investigation into his assets in the UK.
The assets under discussion also include a UK property, located at 1 Hyde Park Place, London, W2 2LH, and valued at approximately £50 million and all of the funds (cash) in the frozen accounts of the family.
Sharing details of the investigation, the NCA, which is the UK’s equivalent of Pakistan’s FIA, said eight account freezing orders were secured in August 2019 at Westminster Magistrates’ Court. This was in connection with funds worth £120 million.
In a statement on Twitter, Riaz said some “habituals” are twisting the NCA report by 180 degrees to throw mud at him. “I sold our legal and declared property in UK to pay £190m to the Supreme Court of Pakistan against Bahria Town,” he wrote.
The NCA press release says the settlement is a civil matter and does not represent a finding of guilt, the property tycoon said in his post.