UK’s National Crime Agency agrees to £190m settlement with Malik Riaz’s family

Nellie Chapman
December 4, 2019

The settlement also includes a United Kingdom property located at 1 Hyde Park Place in central London which was previously owned by the son of the former Prime Minister of Pakistan Nawaz Sharif, namely Hassan Nawaz and was sold to the family in March 2016.

The Pakistani actual property tycoon Malik Riaz Hussain has agreed at hand over 190 million kilos ($244 million) held in Britain to settle a British investigation into whether or not the cash was from the proceeds of crime.

Hussain is one of Pakistan's richest and most powerful businessmen and the largest private employers, and is known for luxury private housing societies.

The assets will be returned to the State of Pakistan, the NCA said today.

"He then tweeted: "'NCA press release says the settlement is a civil matter and does not represent a finding of guilt'.

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Hussain quoted this line in a tweet and also tweeted the NCA statement."Some habituals are twisting the NCA report 180 degrees to throw mud at me", he added.

Earlier this year, the efforts of Prime Minister Imran Khan and Special Assistant to PM for Accountability Shahzad Akbar yielded positive results after the government signed a pact with the British government over extradition of accused involved in corruption cases and seizing assets and property in the United Kingdom.

As per the agreement between the parties, further details of the settlement are confidential.

Sharif was sentenced to 10 years in prison in 2018 on corruption charges linked to the revelations of Panama's documents regarding his family's property outside Pakistan.

The NCA had formerly guaranteed nine freezing requests addressing 140 million weight when you look at the reports in the reasons that the cash was obtained illegally.

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