The National Crime Agency of the United Kingdom on Tuesday announced it had agreed to a settlement of £190 million with Malik Riaz Hussain to resolve an investigation into his assets in Britain.
The real estate tycoon and one of the biggest private sector employers in Pakistan, Malik Riaz was facing an investigation into his assets in the UK.
The assets under discussion also include a UK property, located at 1 Hyde Park Place, London, W2 2LH, and valued at approximately £50 million and all of the funds (cash) in the frozen accounts of the family.
In August, investigators from the NCA had secured
The assets will be given to the government of Pakistan. Malik Riaz Hussain owns Bahria Town, which is one of the biggest private sector employers in Pakistan and its largest privately-owned property development firm.
The freezing orders were on the cash and assets rather than against any individual, and the settlement is a civil legal procedure that does not represent a finding of guilt.