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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
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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.”

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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.


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