The mysterious £190m National Crime Agency settlement with a highly connected Pakistan property tycoon
On December 3, 2019, the UK’s National Crime Agency announced a £190 million out-of-court civil settlement with Malik Riaz, an enormously wealthy and controversial property tycoon from Pakistan. It was the largest settlement ever made by the NCA, which added that the outcome “did not represent a finding of guilt”.
The settlement included 1 Hyde Park Place, a sumptuous £50 million property in London’s exclusive Knightsbridge and which had previously belonged to the son of former Pakistan prime minister Nawaz Sharif.
But what happened to the £190 million once it was returned to Pakistan had been shrouded in secrecy.
Finance Uncovered obtained documents and secured interviews with key players to enable Pakistan journalist, Naziha Syed Ali, to write her deep investigation into the matter. Her findings caused outrage among Pakistan’s legal community.
Read the Dawn story by Naziha Syed Ali here.
Finance Uncovered trains journalists in how to follow the money and then works with them to produce investigations. Details about our training are here.