UK’s National Crime Agency confirms Pakistan’s real estate tycoon Malik Riaz and his family have been fined for providing £ 19m worth of assets – a settlement resulting from the National Crime Agency’s investigation into Malik Riaz. This money and assets will be returned to the state of Pakistan.
According to the British Broadcasting Agency, the British National Crime Agency said in a statement that under the settlement, Malik Riaz and his family, who will give £ 19 million worth of assets, will have their assets frozen in bank accounts in central London. The One Hyde Park Place, located in the prime area of K, also includes an apartment worth about £ 500m.
The statement also said that in August 2019, 8 bank accounts were frozen in connection with the same investigation, which amounted to 12 million pounds, now since the introduction of the AFO in the British Criminal Finance Act 2017. The largest amount of freezing of any account till date is ‘two million pounds was frozen in December 2018 in connection with the same inquiry’.
After the orders of the magistrate, the National Crime Agency quoted these funds. Further Investigations The NCA had shown the possibility that the money was obtained through illegal means or that it was illegally active. It will be used in mixtures, it will be confiscated.