• About Us
  • The TFT Story
  • Team
  • Write for TFT
  • Online advertisement tariff
  • Donate To Us
Sunday, August 14, 2022
  • Home
  • Editorials
  • News
  • Analysis
  • Features
  • Spotlight
  • Videos
  • Citizens’ Voice
  • Lifestyle
  • Editor’s Picks
  • Good Times
  • More
    • About Us
    • Team
    • Write for TFT
    • The TFT Story
    • Donate To Us
  • Home
  • Editorials
  • News
  • Analysis
  • Features
  • Spotlight
  • Videos
  • Citizens’ Voice
  • Lifestyle
  • Editor’s Picks
  • Good Times
  • More
    • About Us
    • Team
    • Write for TFT
    • The TFT Story
    • Donate To Us
No Result
View All Result
No Result
View All Result
Home News

Malik Riaz Reaches Settlement Worth £190 Million With Britain’s National Crime Agency

The NCA released a statement about the settlement saying, “The £190 million settlement is a result of an investigation by the NCA into Malik Riaz Hussain"

News Desk by News Desk
December 16, 2021
in News
Malik Riaz Reaches Settlement Worth £190 Million With Britain’s National Crime Agency
437
SHARES
Share on FacebookShare on Twitter

The National Crime Agency (NCA) of the United Kingdom and Malik Riaz, a Pakistani property tycoon, have reached a settlement deal worth £190 million. This sum includes a £50 million house with the address “1 Hyde Park Place, London, W2 2LH” and funds that have been frozen in various accounts.

The NCA released a statement about the settlement saying, “ The £190 million settlement is a 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 added: “In August 2019, eight account freezing orders were secured at Westminster Magistrates’ Court in connection with funds totaling around £120 million. These followed an earlier freezing order in December 2018 linked to the same investigation for £20 million. All account freezing orders relate to money held in UK bank accounts.”

In a statement, the Assets Recovery Unit (ARU) said, “ The UK’s NCA has agreed to an out-of-court settlement with a Pakistani family that owns significant property developments in Pakistan and elsewhere. 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.”

Shahzad Akbar, Special Assistant to the Prime Minister on Accountability, said, “Britain had agreed to immediate repatriation of the funds received after the settlement. It 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.”

Also Read:

Imran Khan Announces Fight For Freedom At Its Last Stage

PM Shehbaz Reiterates Call For ‘Charter Of Economy’

Tags: PakistanriazagencyunithydenationalparkcourttycoonUKmagistratecrimerecoverymalikARUassetsproperty
Previous Post

Woman Professor Refuses To Receive Degree From Shahbez Gill, Says He Did Not Deserve To Be Chief Guest

Next Post

How Interference ‘From The Top’ Unfairly Distorts The State Bank’s Performance Grading For Staff

News Desk

News Desk

Next Post
Woman Professor Refuses To Receive Degree From Shahbez Gill, Says He Did Not Deserve To Be Chief Guest

Woman Professor Refuses To Receive Degree From Shahbez Gill, Says He Did Not Deserve To Be Chief Guest

Recent News

Unsung Heroism: Women Of Minority Communities

Unsung Heroism: Women Of Minority Communities

August 14, 2022
What Does Azadi Mean For Pakistanis Today?

What Does Azadi Mean For Pakistanis Today?

August 14, 2022
Original Sin

اصل گناہ

August 14, 2022

Twitter

Donate To Us

Subscribe
The Friday Times – Naya Daur

THE TRUTH WILL OUT


The Friday Times is Pakistan’s first independent weekly, founded in 1989. In 2021, the publication went into collaboration with digital news platform Naya Daur Media to publish under a daily cycle.


Social Media

Latest News

  • All
  • News
  • Editorials
  • Features
  • Analysis
  • Lifestyle
Unsung Heroism: Women Of Minority Communities

Unsung Heroism: Women Of Minority Communities

by Merab Arif
August 14, 2022
0

75 years back, at the time of the...

What Does Azadi Mean For Pakistanis Today?

What Does Azadi Mean For Pakistanis Today?

by Sarah Fazli
August 14, 2022
0

Azadi. as a noun in our national language...

Social Feed

  • About Us
  • The TFT Story
  • Team
  • Write for TFT
  • Online advertisement tariff
  • Donate To Us

© 2022 All Rights Reserved.

No Result
View All Result
  • Home
  • Editorials
  • News
  • Analysis
  • Features
  • Spotlight
  • Videos
  • Citizens’ Voice
  • Lifestyle
  • Editor’s Picks
  • Good Times
  • More
    • About Us
    • Team
    • Write for TFT
    • The TFT Story
    • Donate To Us

© 2022 All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist