Malik Riaz Settlement Story: How £190m Recovered?

Malik Riaz Settlement Story came on a top twitter trend on Wednesday. As the federal cabinet held on Tuesday, December 3, 2019, a threadbare discussion on recovery of 190 million pounds by the United Kingdom’s National Crime Agency (NCA). That money has taken from the real estate tycoon Malik Riaz’s family and the matter of handing it over to Pakistan.

Dawn news source who attended the meeting told that the Pakistan’s PM Imran Khan had also discussed the matter with some cabinet members, and it was discussed when most of the officials of Prime Minister Secretariat and the other ministries had left the meeting hall.

PM Office Press release

PM office press release details about the Assets Recovery Unit (ARU) facilitated the repatriation of 190 million pounds (approximately $250m) through a settlement. United Kingdom’s National Crime Agency has also agreed to an out of court settlement, in a pending investigation with a Pakistani family that owns massive property developments in Pakistan and elsewhere. National Crime Agency (NCA) also agreed on immediate repatriation of funds to the state of Pakistan, it added.

 But Pakistan’s PM’s aide reluctant to share these details of case, due to some conditions in the ‘settlement’.

Details of Malik Riaz Settlement

That most secret settlement, which includes a UK property located at 1 Hyde Park Place in the central London, was previously owned by the son of former prime minister Nawaz Sharif, Mr. Hasan Nawaz and it was sold back in March 2016 to the Malik Riaz family. In depth details are not meant to make public, as per the agreement between the parties, settlement are confidential.

Who initiated the investigation against Malik Riaz?

Dawn source claimed NCA had initiated the investigation not by itself against Malik Riaz but after receiving a complaint of Pakistan government. But later on believed that in this case that money had been laundered by a former PM pf Pakistan Muslim League Nawaz in UK.

Special Assistant to the PM on Accountability Shahzad Akbar, when contacted for more details, expressed reluctance to share because of the case due to some conditions in the “settlement”.