Property Tycoon Malik Riaz is Ready to Return £190m Worth Assets to Pakistan State

 Property Tycoon Malik Riaz is Ready to Return  £190m Worth Assets to Pakistan State

Pakistan’s Property Tycoon Malik Riaz, once again Appearing in the News. The National Crime Agency (NCA) has Agreed Upon the Settlement of £190m with Malik Riaz to Resolve an Ongoing Investigation into his Assets. Property Tycoon Malik Riaz is Ready to Return £190m Worth Assets to Pakistan State.

Malik Riaz is The Real Estate Tycoon and one of the Biggest Private Sector Employers in Pakistan. He own the Biggest Housing Society of Pakistan and that is BAHRIA TOWN. He was facing an investigation into his assets and Found that the Property was Bought from the ‘Laundering and Corruption’ Money.

Property Tycoon Malik Riaz is Ready to Return £190m Worth Assets to Pakistan State

The UK Crime Agency Found that Money used to Purchase Disputed Properties that include One Hyde Park Place, London, W2 2LH. So, These properties were “Suspected to have been Derived from Bribery and Corruption”.

Property Tycoon Malik Riaz is Ready to Return  £190m Worth Assets to Pakistan State

So, NCA has Accepted a Settlement around £190m, also UK Property, Located at 1 Hyde Park Place, London, W2 2LH, and Valued Approximately £50 million. The Assets will be Returned to the State of Pakistan.

Surprisingly, the Property named 1 Hyde Park was one of the Properties which Nawaz Sharif owned and also Discussed in the Panama Papers. When Panama Papers Hit the Shores of Pakistan, Hussain Nawaz sold the Property to Malik Riaz.

The property is worth 50 million pounds alone. Additionally, the nine bank accounts hold a total cash amount of 120 million pounds. The assets will now be handed over to the State of Pakistan.

Statement of NCA Regarding this Settlement

The National Crime Agency’s official statement reads: “Settlement includes a UK property valued at approximately £50 million. The National Crime Agency has agreed on a settlement figure with a family that owns large property developments in Pakistan and elsewhere.

The £190 million settlement is the 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.

These are the same Assets that PM Imran Khan and his Cortege had Targeted after the Panama Leaks. However, instead of Nawaz Sharif, the assets are being handed over to the State of Pakistan by Malik Riaz.

Also Read: Imran Khan waives off Visa-free Entry to Pakistan for Sikh Yatrees

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