“No Criminality In  £190 Million Deal,” Govt Defends Property Tycoon Malik Riaz

Mirza Shahzad Akbar, Special Assistant to Prime Minister on Accountability rebuffs controversy involving Malik Riaz—the property tycoon of the country.

ISLAMABAD: (Urdu Point/UrduPoint / Pakistan Point News-Dec 14^th, 2019) The Federal government has come forward to rebuff the controversy involving Property tycoon Malik Riaz’s deals with the UK’s authorities, saying that ““No criminality was committed in it, as it was solely a civil matter and not a criminal case,”

Addressing a press conference, Special Assistant to the Prime Minister (SAPM) on Accountability Mirza Shahzad Akbar said Malik Riaz and his family did not commit any “criminality” by entering into deal with the UK’s authorities.

Shahzad Akbar said that UK’s National Crime Agency had frozen nine bank accounts of Malik Riaz and his family and handed over the money to Pakistan. However, he evaded most questions by journalists regarding the 190 million Pounds recovery from the real estate tycoon by the NCA. He tried to cover the inside story. He said Malik Riaz matter was solely a civil matter. Akbar said that worth of the property was 15m pounds when it was sold by Hussain Nawaz, son of ex-premier Nawaz Sharif but Hussain had overvalued the property at the time of its sale to Malik Riaz.

“The property has so far not been sold under NCA’s decision,” he explained.

In quick reaction to the mud being thrown at him regarding settlement of worth £190 million with UK’s National Crime agency, country’s top property tycoon Malik Riaz said that he sold legal and declared property in the UK to pay amount to the SC against Bahria Town Karachi.

In a tweet, Malik Riaz termed the allegations about his wealth, property and acceptance of settlement offer as “mud” and said that the facts about his settlement with NCA were being twisted.

In another tweet, he said that NCA had said in its press release that the matter was a civil matter and did not involve any guilt or offense. He said he was a proud Pakistani and would remain till his last breathe. He also chanted slogan of Pakistan Zindabad.

Earlier, National Crime Agency of the UK agreed to a settlement worth £190 million with Malik Riaz, the top property tycoon, National Crime Agency revealed here on Tuesday. Through its official twitter account, National crime Agency said: “The NCA has agreed a £190 million settlement with a family that owns large property developments in Pakistan and elsewhere after a frozen funds investigation,”.