No Result
View All Result
Wednesday, July 16, 2025
MM News
اردو
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File photo

    Sidharth Malhotra, Kiara Advani welcome baby girl

    (Image: Instagram/Aliza Sultan)

    Once bitten, twice shy: Aliza Sultan says to think for 100 years before marriage

    Ishtiyak Khan

    What made Salman Khan and Ranbir Kapoor’s co-star run an omelette stall?

    Dua-e-Khadija during Miss Global Pakistan 2025 (Image: Instagram/misspakistanglobal)

    Dua-e-Khadija from Peshawar wins Miss Global Pakistan 2025 crown

    Mohan Raj

    Video: Stunt artist Mohan Raj dies during car stunt for film

    Kahiin to hoga

    Why did Rajeev Khandelwal quit Kahiin To Hoga at the peak of his fame?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
MM News
  • Home
  • Latest News
  • National
  • Dramas
  • Showbiz
    File photo

    Sidharth Malhotra, Kiara Advani welcome baby girl

    (Image: Instagram/Aliza Sultan)

    Once bitten, twice shy: Aliza Sultan says to think for 100 years before marriage

    Ishtiyak Khan

    What made Salman Khan and Ranbir Kapoor’s co-star run an omelette stall?

    Dua-e-Khadija during Miss Global Pakistan 2025 (Image: Instagram/misspakistanglobal)

    Dua-e-Khadija from Peshawar wins Miss Global Pakistan 2025 crown

    Mohan Raj

    Video: Stunt artist Mohan Raj dies during car stunt for film

    Kahiin to hoga

    Why did Rajeev Khandelwal quit Kahiin To Hoga at the peak of his fame?

  • Thought Box
  • Business
  • Opinions
  • Technology
  • The Other Side
No Result
View All Result
No Result
View All Result
MM News
اردو
  • Latest
  • Showbiz
  • Thought Box
  • Business & Stock
  • Opinions
  • Technology
  • The Other Side-Pakistan
Home World

Pakistani tycoon agrees to hand over £190m to UK authorities

Salima Bhutto by Salima Bhutto
December 5, 2019
Pakistani tycoon agrees to hand over £190m to UK authorities

Pakistani tycoon agrees to hand over £190m to UK authorities

LONDON: The United Kingd­om’s National Crime Agency (NCA) has accepted an offer of a staggering £190 million from the family of property tycoon and businessman Malik Riaz after a month-long investigation into property and accounts connected to them.
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.

READ MORE: Corruption cases: Akram Durrani summoned on Nov 12

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.

READ ALSO: NAB summons Akram Durrani in multiple corruption cases

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.

READ MORE: NAB approves filing of three corruption references

The seven-floor property on Hyde Park Place was previously listed for rent on property website Zoopla for £86,667 a month.
On Tuesday, Malik Riaz tweeted:

"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

— Malik Riaz Hussain (@MalikRiaz_) December 3, 2019

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.

READ ALSO: Govt decides to launch action against ‘Karkey’ culprits

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.
The 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.

READ MORE: Sindh Government decides to form ‘Sindh Task Force’

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.”
Tags: Londonmalik RiazMM groupmm newsMMTVPakistani tycoon
ShareTweetSendShare
Previous Post

Human bones recovered from Karachi’s Annu Bhai Park

Next Post

Fake account case: Zardari’s bail plea extended for 7 days

Related Stories

Oliver Haarmann and Reese Witherspoon in New York City on Sept. 4, 2024.
Credit : TheImageDirect.com
Trending

Who is Reese Witherspoon’s love Oliver Haarmann?

July 15, 2025
File photo
Thought Box

Who was Fauja Singh?

July 15, 2025
Gaza
Top News

New video shows Palestinians under fire while waiting for aid in Gaza

July 15, 2025
Fight in Syria
Top News

Over 30 killed, 100 injured in armed clashes in Syria

July 14, 2025
Schoolgirls in Russia
Top News

Which country is encouraging schoolgirls to get pregnant for cash rewards?

July 14, 2025
London Southend Airport
Top News

Video: Small aircraft crashes at London Southend Airport

July 14, 2025
A vessel said to be Greek-operated, Liberia-flagged Eternity C sinks in a footage released by Yemen's Houthis, in the Red Sea, in this screen grab taken from a handout video released on July 9, 2025. HOUTHI MEDIA CENTER/Handout via REUTERS/File Photo
World

‘All Crew Muslim’: Ships use messaging tactics to avoid Houthis attacks in Red Sea

July 13, 2025
President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, DC, on April 2.
Carlos Barria/Reuters
Business & Stock

Trump slaps 30% to 50% tariffs on THESE countries

July 13, 2025
file photo
World

Iranian media claims Israeli attack injured President Pezeshkian during recent war

July 13, 2025
image: Online
World

WHO sends Sheikh Hasina’s daughter, Saima Wazed on indefinite leave amid corruption allegations

July 13, 2025
Next Post

Fake account case: Zardari's bail plea extended for 7 days

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Stories

File photo
Trending

Sidharth Malhotra, Kiara Advani yet to announce name of their baby girl

by MM News Staff
July 16, 2025
File photo
Film & TV

Sidharth Malhotra, Kiara Advani welcome baby girl

by MM News Staff
July 15, 2025
Film & TV

How to watch the new Harry Potter series online?

by MM News Staff
July 15, 2025
Oliver Haarmann and Reese Witherspoon in New York City on Sept. 4, 2024.
Credit : TheImageDirect.com
Trending

Who is Reese Witherspoon’s love Oliver Haarmann?

by MM News Staff
July 15, 2025
File photo
Thought Box

Who was Fauja Singh?

by MM News Staff
July 15, 2025

Opinion

nadeem moulvi
From Sects to Sunnah
July 15, 2025
- Nadeem Moulvi
Munir-Ahmed
Portugal and Pakistan: Building a Bilateral Bridge in a Fractured World
June 29, 2025
- Munir Ahmed
munir ahmed oped
A Peace Prize for Betrayals: Rethinking Pakistan’s Strategic Alliances
June 28, 2025
- Munir Ahmed
No posts found
See all

Weather Updates

Rain
Top News

Early morning rain brings pleasant weather to Lahore

by MM News Staff
July 15, 2025

Early morning heavy rainfall in various areas of Lahore made the weather pleasant, but...

Image: Online

Parts of Punjab including Lahore receive heavy monsoon rains

July 14, 2025
File photo

PMD forecasts date for next monsoon spell in Karachi

July 12, 2025
file photo

Flood warning issued as heavy rain expected in parts of Pakistan from July 13-17

July 11, 2025
See all

Prices

Petroleum Price in Pakistan
Business & Stock

How much will petrol and diesel prices increase starting today?

by MM News Staff
July 15, 2025

There is a possibility of an increase in petroleum product prices for the next...

Foreign Currency

Foreign currency exchange rates in Pakistan, 15 July 2025

July 15, 2025
(Representational Image)

Govt to replace net metering with gross metering, slash buyback rate

July 14, 2025
representative image

Latest gold prices in Pakistan today- 14 July 2025

July 14, 2025
See all

Transport News

Korangi Causeway Road (File Photo)
Top News

Korangi Causeway road will be closed upon completion of Malir Expressway: CM Sindh

by MM News Staff
July 14, 2025

Sindh Chief Minister Syed Murad Ali Shah has announced that Korangi Causeway Road will...

Goods transporters join traders, announce nationwide wheel-jam strike on July 19

July 14, 2025
File photo

Pakistan Railways to launch business train between Karachi and Lahore

July 14, 2025
representative image

How to buy a motorcycle under Punjab’s interest-free installment scheme

July 14, 2025
See all

MM Digital (Pvt.) Ltd.

MM News is a subsidiary of the MM Group of Companies. It was established in 2019 with the aim of providing people of Pakistan access to unbiased information. Contact Details: 03200201537

Quick Links

  • Home
  • Advertise
  • MM News Urdu
  • The Other Side-Pakistan
  • Contact Us
  • Privacy Policy

Top Pages

  • Latest News
  • Showbiz
  • OP-ED
  • Technology
No Result
View All Result
  • Latest News
  • Showbiz
  • Thought Box
  • Business
  • Opinions
  • Technology

© Copyright 2024 MMNews - All Rights Reserved.