In December 2019, Pakistani property tycoon Malik Riaz settled with the UK's National Crime Agency (NCA), paying £190 million.
The settlement included a luxury property in London, One Hyde Park Place, valued at £50 million.
On Friday, Pakistan's Minister for Law, Azam Nazir Tarar, stated that the funds recovered by the NCA as part of this settlement were meant to be transferred to the federal government of Pakistan, specifically to the State Bank’s Account Number One.
The £190 million collected from Malik Riaz was subsequently transferred to Pakistan. However, during a meeting of Imran Khan's cabinet, it was approved—through a sealed envelope—that the amount would be adjusted towards the compensation Bahria Town owed for projects benefiting Sindh residents, as determined by the Supreme Court of Pakistan.
Azam Nazir Tarar explained that Prime Minister Shehbaz Sharif had directed the National Accountability Bureau (NAB) to investigate the matter. Additionally, the Attorney General's Office was instructed to request the Supreme Court to declare the money as belonging to the people of Pakistan and return it to the Federal Government.
According to the Law Minister, after the case was filed, the Supreme Court transferred the funds to the Federal Government's account.
It is worth noting that in November 2024, the Supreme Court ordered that Rs35 billion deposited by Bahria Town during the settlement process be transferred to the federal government.
