UK To Return £190 Mn Of Malik Riaz’s Frozen Wealth To Pakistan

KARACHI: The National Crime Agency of the UK has agreed a settlement of £190 million with Malik Riaz family, which includes a UK property worth approximately £50 million. The assets will be returned to the State of Pakistan.

According to a statement issued by the NCA, it has agreed a settlement figure with a family that owns large property developments in Pakistan and elsewhere.

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

The statement said that 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.

It may be recalled that in August 2019 eight account freezing orders were secured at Westminster Magistrates’ Court in connection with funds totalling around £120 million.

These followed an earlier freezing order in December 2018 linked to the same investigation for £20 million. All of the account freezing orders relate to money held in UK bank accounts.

https://regionaltelegraph.com/2019/12/03/uk-to-return-190-mn-of-malik-riazs-wealth-to-pakistan/

 

@godzilla @Disco Lemonade @Mycroft Holmes @MNA @Mohsin @Passionate Pakistani

 

Finally dodgy money coming back into Pakistan. Details are bit confusing as who is settling but good thing is GBP 190 million are coming to Pakistan

 

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

December 03, 2019




"The £190 million settlement is the result of an investigation by the NCA into Malik Riaz Hussain, a Pakistani national, whose business is one of the biggest private sector employers in Pakistan." – AFP/File
The National Crime Agency (NCA) of the United Kingdom has agreed to a settlement worth £190 million with the family of property tycoon Malik Riaz.

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


National Crime Agency (NCA)

✔@NCA_UK
· 7h

The NCA has agreed a £190m settlement with a family that owns large property developments in Pakistan and elsewhere after a frozen funds investigation.

Read more https://nationalcrimeagency.gov.uk/news/nca-agrees-190m-settlement-after-frozen-funds-investigation-3 …



National Crime Agency (NCA)

✔@NCA_UK

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


1,101
4:27 AM - Dec 3, 2019
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The NCA has accepted a settlement offer 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.

The assets will be returned to the State of Pakistan.

"In August 2019, eight account freezing orders were secured at Westminster Magistrates’ Court in connection with funds totalling around £120 million. These followed an earlier freezing order in December 2018 linked to the same investigation for £20 million. All of the account freezing orders relate to money held in UK bank accounts," said the agency.

The Assets Recovery Unit (ARU) also confirmed the development, saying that UK's NCA had "agreed to an out of court settlement [...] with a Pakistani family that owns large property developments in Pakistan and elsewhere".

A statement, released from the office of Special Assistant to the Prime Minister on Accountability Shahzad Akbar, said that Britain had agreed to an "immediate repatriation" of the funds received after the settlement and hailed it as a "success story of close cooperation between the United Kingdom and Pakistan’s multiple law enforcement agencies and efforts made since last year’s Justice and Accountability Partnership created between the two countries".

According to ARU's statement, the court proceedings were "against the funds themselves, not against any named individual".

"The settlement is a civil matter and does not represent a finding of guilt," the statement emphasised.

Furthermore, the ARU revealed that the property included in the settlement was sold to the family in 2016 by Hassan Nawaz, former premier Nawaz Sharif's son.

Earlier this year in March, the Supreme Court of Pakistan accepted an offer of Bahria Town (Pvt) Ltd – owned by Malik Riaz – to settle cases pertaining to its Malir or Karachi Superhighway project in lieu of payment of Rs460 billion.

The deal was struck when the counsel representing the developer agreed to enhance their offer to Rs460bn from the earlier Rs450bn.

“The offer is accepted,” Justice Sheikh Azmat Saeed had declared after a brief hearing about implementation of the court’s judgement of May 4, 2018 in which it was held that grant of land to the Malir Development Authority (MDA) by the Sindh government, its exchange with the land of private land developers (Bahria Town) and anything done under provisions of the Colonisation of Government Land Act 1912 by the provincial government was illegal and of no legal existence.

The acceptance of the offer by the apex court restrained the National Accountability Bureau (NAB) from filing references against the directors and officials of Bahria Town. However, in case of default in payment of the settlement amount during the period agreed to under the deal (which has been reduced to seven years from eight), NAB will be free to file corruption references against the developer, but after prior permission of the court.

 

Good Lord, there is never a dull moment in Pakistani cricket and politics.

So basically Nawaz's babblu sold property to Malik Riaz's son Ali Raiz when Panama came to fore. I wouldnt be wrong if I say one thief sold a property to another thief...

I dont mind Nawaz, Zardari etc leaving the country if money will be returned to Pakistan like this.

More to the point, I really, really hope that media's accountability will begin soon too.

I really hope its first drop of rain !!!

 

is that settlement with UK authorities or with Malik Riaz. What was the total amount claimed, relative to the 190 they settled on?

better than nothing for sure, but until we know the answer to those two questions, cant claim to have a good handle on it all.

 

absolutely incredible. and still these bastards have their life long supporters - people who dont care that this is money that belonged to the starving awam that have died from a lack of medicines and medical facilities because these sob's took all the mopmney abroad. absolute disgrace.

where are their supporters to justify this? but but but but what about the $2mm foreign funding case? absolute disgrace, may they receive everything coming to them in this world and the hereafter.

 

looks like a tsunami of bad news for the noonatics, and their lapdogs.



suddenly the dharna, economics, and foreign funding experts seem to have disappeared. maybe the establishment took away their internet access?

 

@Mars

 

Good news

 

Malik riaz has been committing quite a bit of money. what happened to the money he committed to court against illegal land grabbing of bahria town karachi?

 

incredible that the PMLN mouthpiece the Express Tribune doesnt view the repatriation of 190mm of NS looted money as worthy of reporting.

 

very difficult for us laypeople to understand how much money is fair to be returned to the national exchequer. I was told by a property dealer in London face to face that last ramadan when Shehbaz lied about seeking medical help in London, he was in fact unloading a £2bn property portfolio through shell companies into the market at fire sale prices. He told me that he had been offered the properties himself.

ive no reason to doubt him, but dont know him well enough to know if his numbers were accurate. either way, I cant wait for more of this.

 

The so called liberals are saying that since it is Malik Riaz, nobody in media is discussing this neither the govt. is marketing it. Can anyone advise which anchors discussed this news in their programs today.

 

Apparently it was only moeed pirzada who discussed this development on tv media today.

 

ive seen it all over twitter. and I think Sabir Shakir night have talked about it on his YouTube vlog yesterday too. ive seen a noonatic say that its nothing to do with the sharifs, although they seem very willing to draw imaginary lines when it comes to the establishment. two months before Panama, Hyde park was sold off by the sharifs. the fact that they had it inthe first place is enough - where's the money trail? its a secondary issue that they sold it on, and may have done that to launder their funds. Shahzad Akbar also put something up on twitter which was an official UK release and said he couldnt say much more, which means there is more.

its all over the UK news sites if you search for it.

 

Paid, puppet media wouldnt talk about it, because its people like Malik Riaz who support bankrupt media channels, who are in lost since past many years.

 

yes - lots of bharia adverts they probably dont want to do without.

but but but I thought the establishment was controlling everything....?

 

well, well, well, the smoke is starting to rise indicating that a fire has started. signs are that the 'new era' that the chief of nab suggested we were going to have and the new regime of aggression that the prime minister hinted at has indeed begun, but its not quote the same change that mars, fazlUR and his little bunch of servile yes men to corruption were thinking.

several quotes both from the press and from the administration are suggesting that not only are we seeing the tip of the iceberg, but that theres much, much more to come.

I remember talking to a forensic accountant about ten years ago about the corruption of Benazir, and the paper trail they had left, they were all doing global shell companies back then too, and it became clear just from reading the Pakistan news that the way these regimes were stealing monety was to set up some bullshit business that would never be profitable, because they dont know hoe to do business, borrow a huge amount of loans, transfer the loans out to shell companies, and have the national banks write off the debt. its similar to what Donald Trump has done to amass some of his wealth too. but stealing from the national banks is of course the same as stealing from the national exchequer since the government has to prop up the national bank when it is in trouble, as we have seen in the west too in the last financial crisis.

the guy I was speaking to was surprised when I suggested this, seemed like very obvious common sense, and I remember him saying 'how do you know that?' he went on to confirm thats exactly what happened.

if you are wondering why shabaz came out crying in his press release today (choosing not to address whether he was taking the uk papers to court or not), why the courts froze his assets and what the new winds of change are, please take some time to watch this. its a complete and clear proof of what has been going on, and the extent to these people's theft from the poor Pakistani awam, the filth and gutter morals they have in still speaking in reference to God and religion, and claiming that they are innocent, all whilst running away from the country on false pretences.



this is a follow up to an equally devastating programme yesterday by him, and he himself says theres a huge amount more yet to come.

similarly it takes anyone with eyes and ears to see the press release from Musharraf, to see he is genuinely ill. even his most hated enemies are agreed that zardari is genuinely ill too. and yet these sharif bastards you can see are fit as a fiddle, and are in London to make arrangements to save their wealth, and to negotiate settlements with international partners they will bribe with money stoled from poor, starving, dying Pakistani people.

if your appetite has increased for more, take a look at this: - Sabir Shakir talks too about billions of pounds of properties in London still, after this last settlement under the guise of Malik Riaz. thats jives with information I picked up first hand in London earlier this year, which makes me think that perhaps it is true after all.

one thing is for sure, it looks like the dharna, the lies, the smoke, the economy, all the excuses that the PMLN and there cursed lying, deceitful, thieving supporters have tried to mislead people with are unravelling, and the truth of what they have done is finally looking like its coming out.

lets hope that everyone receives the justice they deserve.

 

great news

 

38,696,806,456.00 Pakistani Rupees

this is massive

 

Knew there would be a lot of huffing puffing on this here. Only for the money to be transferred right back to Malik Riaz.

The money that was transferred has been given to the Supreme Court and will be deducted from the 450b.


Yes the government just facilitated the money transfer.. Lolol.

 

LOL knew the PMLN lying troll would be back with a LOLOL, and trying to ignore the lies about no money being repatriated, and pretending it is a total irrelevancy that sharif sold the property to Riaz, his front man.

not to worry, better gat that holiday booked early because the rumours are that zardari is about to make a deal, and theres a boat load more of sharif money coming back. several other properties way into the investigative stage with the NCA.

as it happens, thanks to the sharifs, when money is recovered from the UK via their NCA, they get to keep 50% of the money. so thats half of the Pakistani wealth that the sharifs are handing over to the british government too. they should hang for this.

 

Sucker born every minute !!! damned if you do damned if you don't, this perfectly sits with these people. These people will never ever give due credit (shameless douche's).

First they take a gibe that "Where is the looted money" and when something is returned, than instead of appreciating it like a true well wisher of Pakistan all they do is - LOL or LMAO whenever mirror is shown to them.

 

killer programme with all the data - its game over for shabaz, and they havent even started on Nawaz yet. I reckon this is why they have frozen shabaz's assets and today moved to cancel Maryams bail - and why of course they are all in London.

id be surprised if they come back.