UK's National Crime Agency accepts £190m settlement from Pakistani businessman

LONDON (92 News) – The UK's National Crime Agency (NCA) has agreed £190m (Over Rs38 billion) settlement with a Pakistani national after frozen funds investigation. According to the National Crime Agency, the settlement includes a UK property valued at approximately £50 million. The agency has agreed 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 a renowned Pakistani national whose business is one of the biggest private sector employers in Pakistan. In August 2019, eight account freezing orders were secured at Westminster Magistrates’ Court in connection with funds totalling around £120 million. These followed an earlier freezing order in December 2018 linked to the same investigation for £20 million. All of the account freezing orders relate to money held in UK bank accounts. The NCA has accepted a settlement offer in region of £190 million which includes a UK property, 1 Hyde Park Place, London, W2 2LH, valued at approximately £50 million and all of the funds in the frozen accounts. The assets will be returned to the State of Pakistan.