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Money From £190mn Settlement Between UK’s NCA And Malik Riaz Transferred To Pakistan

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Special Assistant to Prime Minister on Accountability Shahzad Akbar has said that the £190 million settled between the Malik Riaz family and the United Kingdom’s National Crime Agency has been transferred to Pakistan.

While speaking at a press conference in Islamabad today, Akbar stated that this was the first time in history that money had been repatriated through the legal process.

He added that the settlement involved civil repatriation and was not of a criminal nature, as the matter had been settled without the case going to trial.

He further said that the Pakistani government was thankful to the British government and the National Crime Agency who had solved the matter in such a short period.

Akbar detailed that £20mn had been frozen in December 2018 through an asset freezing order, while a further £120mn was frozen later. Moreover, a property, 1 Hyde Park, was also frozen.

He added that when the matter was settled, there was a condition that the money would be returned to Pakistan. He stated that the government of Pakistan had also signed a deed of confidentiality, hence, they could not give more details.

Moreover, Akbar said that more such cases were ongoing with the NCA, and more money would be repatriated to Pakistan.

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