So what was the request from Pakistan and which bureaucrat was chasing it up? As well, why the said bureaucrat failed to bring back money from NS & Zardari?
So far our bureaucracy has been a failure....I am not surprised and I have taken this failure as a norm now ...too normal to even care about who is doing what!
He is simply paying back the settlement of SC. NCA statement clearly says its a civil settlement and there is no proof of guilt.
Since you claim this is a civil settlement of SC...find the "guilt" with SC!
Someone should ask Malik Riaz what is NCA? C is for Crime and he is labelling it as a Civil matter ..
Not just Malik Riaz:
He is simply paying back the settlement of SC. NCA statement clearly says its a civil settlement and there is no proof of guilt.
Pakistani tycoon agrees to hand over £190m to UK authorities
Nine freezing orders secured against Malik Riaz Hussain in ‘dirty money’ investigation
The £50m property at Hyde Park Place, London, Malik Riaz Hussain agreed to hand over as part of the settlement. Photograph: REX/Shutterstock
More than £190m of assets, including a £50m mansion overlooking Hyde Park in London, have been seized from a Pakistani property tycoon after a settlement in a UK police “dirty money” investigation.
On Tuesday, the National Crime Agency said Malik Riaz Hussain had agreed to the multimillion-pound settlement that did “not represent a finding of guilt”.
NCA investigators secured nine freezing orders that covered £140m in funds held in UK bank accounts after allegations that the cash may have been the proceeds of crime. The money and ownership of the central London property will be handed over to the government in Pakistan, where Hussain had been charged with fraud and corruption.
The freezing orders were on the cash and assets rather than against any individual.
Hussain is the owner of Bahria Town, Asia’s largest private property developer . He had been the subject of an unexplained wealth order, which froze eight of his UK bank accounts containing £120m
the NCA “suspected to have derived from bribery and corruption overseas”.
Included in the £190m settlement is a grade-II listed 10-bedroom mansion that includes a cinema, swimming pool, gym, steam room and spa. The seven-floor property on Hyde Park Place was previously listed for rent on property website Zoopla for £86,667 a month.
On Tuesday, Hussain tweeted:
Malik Riaz Hussain@MalikRiaz_
·
Dec 3, 2019
Some habituals are twisting the NCA report 180 degrees to throw mud at me. I sold our legal & declared property in UK to pay 190M £ to Supreme Court Pakistan against Bahria Town Karachi. 1/2
Malik Riaz Hussain@MalikRiaz_
"NCA press release says the settlement is a civil matter and does not represent a finding of guilt".
I am a proud Pakistan and I will remain until I breath my last.
Pakistan Zindabad 2/2
508
11:42 AM - Dec 3, 2019
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The NCA described Hussain as the boss of “one of the biggest private sector employers in Pakistan”. Bahria Town specialises in properties that replicate famous buildings such as the
Burj Khalifa in Dubai, the
Eiffel Tower in Paris and even whole squares, such as
Trafalgar Square in London. They are aimed at wealthy Pakistanis as well as immigrants.
The agency first froze £20m of Hussain’s funds last December, and in August secured a court order that covered £120m across eight further bank accounts.
It is the largest amount frozen in a NSA investigation since the Criminal Finances Act 2017 came into force. The legislation gives police greater powers to crack down on people attempting to launder money through the UK.
The NCA is also investigating the assets of a former Azerbaijani state banker’s wife, who was found to have spent £16m in a
decade-long spending spree in Harrods dep.
Duncan Hames, director of policy at the anti-corruption charity Transparency International UK, said:
“We welcome news that UK law enforcement have secured a substantial amount of funds for return to the people of Pakistan.
“The size of funds in this case is a step change from previous efforts and shows the importance of changes introduced by the Criminal Finances Act 2017.
Although there is scant information about the specifics of the case, returning seized funds to the country of origin, as is proposed, is an obligation under the UN convention against corruption.”
https://www.theguardian.com/uk-news...hands-over-pounds-190m-to-uk-authorities-nca-
I guess money laundering is a civil dispute
Pakistan tycoon hands over $248m to settle UK corruption probe
UK's National Crime Agency says assets and cash frozen in the country will be handed over to Pakistani government.
8 hours ago
The UK agency said the assets would be passed to the government of Pakistan, which has been spearheading an anti-corruption campaign [Caren Firouz/Reuters]
Malik Riaz Hussain, a Pakistani real estate tycoon, has agreed to hand over 190 million pounds (approximately $248m) held in the
United Kingdom to settle a corruption investigation.
Hussain, one of
Pakistan's richest and most powerful businessmen and one of the country's biggest private employers, built upmarket housing complexes. He is accused of fraud and
corruption.
Britain's National Crime Agency (NCA) said it has agreed to a settlement in which Hussain would hand over his 1 Hyde Park Place property, valued at 50 million pounds (approximately $65m), and cash frozen in the British bank accounts.
The NCA had previously secured nine freezing orders covering 140 million pounds (approximately $182m) in the accounts on the grounds that the money may have been acquired illegally.
Anti-corruption drive
The agency said the assets would be passed to the government of Pakistan, which has been spearheading an anti-corruption campaign since Prime Minister
Imran Khan came to power last year.
The NCA, however, said that the settlement with Hussain was "a civil matter, and does not represent a finding of guilt".
Hussain, who also supports charitable causes in the South Asian nation of 200 million, quoted this line in a tweet, which also included the NCA statement.
"Some habituals are twisting the NCA report 180 degrees to throw mud at me," he posted.
The settlement will help Khan's anti-corruption drive, which has so far failed to bring back the billions of dollars that his government accuses the opposition politicians of stashing abroad.
Pakistani journalist and commentator Zarrar Khuhro said it was a "monumental moment" for Pakistan government's anti-corruption drive.
"However, it was a little odd that the government has not, as yet, claimed credit for this or shouted it from the rooftops as one would expect them to do," he told Al Jazeera.
According to the Financial Times newspaper, UK Land Registry records show the Hyde Park property was purchased for £42.5m (approximately $55m) in 2016 from the son of former Pakistani Prime Minister Nawaz Sharif.
On
@ZaraHatKay_Dawn tonight we discuss in detail settlement between NCA and Malik Riaz over UK properties one of which was earlier owned by Hussain Nawaz along with
#UoBVideoScandal and inspirational stories of differently abled Pakistanis making it big
@ZarrarKhuhro @Dawn_News
— Mubashir Zaidi (@Xadeejournalist)
December 3, 2019
Pakistani media outlet ARY News said the property was
sold in March 2016, weeks before a set of controversial documents implicating many global leaders and businessmen, known as the
Panama Papers, became public.
Sharif was sentenced to 10 years in prison in 2018 on corruption charges linked to the Panama Papers revelations regarding his family's properties outside Pakistan.
https://www.aljazeera.com/news/2019...ttle-uk-corruption-probe-191204065641192.html
