According to UK authorities, the assets worth of billions of rupees now will be returned to Pakistan
LAHORE: (Urdu Point/Pakistan Point News-Dec 3rd, 2019) United Kingdom agreed to a settlement worth £190 million with Pakistan’s top property tycoon Malik Riaz, 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.
