Settlement of £190 million with the UK’s NCA: Malik Riaz says the property sold was legal and declared

LAHORE: (Urdu Point/Pakistan Point News-Dec 3^rd, 2019) In quick reaction to the mud being thrown at him regarding settlement of worth £190 million with UK’s National Crime agency, country’s top property tycoon Malik Riaz said that he sold legal and declared property in the UK to pay amount to the SC against Bahria Town Karachi.

In a tweet, Malik Riaz termed the allegations about his wealth, property and acceptance of settlement offer as “mud” and said that the facts about his settlement with NCA were being twisted.

In another tweet, he said that NCA had said in its press release that the matter was a civil matter and did not involve any guilt or offense. He said he was a proud Pakistani and would remain till his last breathe. He also chanted slogan of Pakistan Zindabad.

Yesterday, National Crime Agencyc of the UK agreed to a settlement worth £190 million with Malik Riaz, the top property tycoon, National Crime Agency revealed here on Tuesday. Through its official twitter account, National crime Agency said: “The NCA has agreed a £190 million settlement with a family that owns large property developments in Pakisan and elsewhere after a frozen funds investigation,”.

In another tweet, the agency also said that it agreed to the settlement offer in region of £ 190 million that also includes a UK property, 1 Hyde Park Place, London W2 2LH, the value of which is approximately £150 million and all of the funds in the frozen accounts.

According to the UK authorities, the assets would be returned to Pakistan after acceptance of Malik Riaz’s settlement offer to National Crime Agency.

The agency said that £ 190 million settlement is the result of an investigation by the NCA into Malik Riaz Hussain, a Pakistani national, whose business is one the biggest private sector employees in Pakistan.

It may be mentioned here that a magisterial court ordered freeze of eight accounts.