The National Crime Agency (NCA) of the United Kingdom on Tuesday announced it had agreed to a settlement of £190 million with Malik Riaz Hussain to resolve an investigation into his assets in Britain. watch the details in the video, below.
“The NCA has accepted a settlement offer in region of £190 million which includes a UK property, 1 Hyde Park Place, London W2 2LH, valued at approximately £50 million and all of the funds in the frozen accounts”
In a press release, the NCA said it had agreed on a settlement with a “family that owns large property developments in Pakistan and elsewhere.” The settlement, it added, was the result of a probe into Hussain’s British assets and includes 1 Hyde Park Place, a property valued at £50 million, and the money in all the frozen accounts. Also, Watch a mother killed the killer of Her Son after getting disappointed from the justice system in Pakistan.
These assets, it said, would be returned “to the State of Pakistan.” A senior communications officer for the NCA confirmed to Newsweek Pakistan via email that “all the assets have now been returned to Pakistan.”
In August, investigators from the NCA had secured nine freezing orders covering £140 million in funds in U.K. bank accounts. At the time, the agency had said the accounts were frozen because the money was “suspected to be derived from bribery and corruption.”
Legal experts say the freezing orders were on the cash and assets, and not any particular individual. The settlement, they added, is a civil legal procedure that is not considered admission of guilt.
Malik Riaz Hussain, a real estate tycoon who owns Bahria Town, is one of the largest private sector employers in Pakistan.
Analysts reveals that this property was owned by Hussain Nawaz (Son of oasted prime minister Nawaz Sharif). Days before the scandal of Panama Papers in April 2016, British media asked Hussain Nawaz Sharif and his brother to give their version.
Hussain Nawaz transferred this property to Malik Riaz’s son in March 2016 who is now acting as their frontman in this settlement. Govt of Pakistan will get this money now.