Malik Riaz responds to NCA report regarding 190M £ settlement

Bahria Town Chairman Malik Riaz has responded to the ongoing criticism amid UK’s National Crime Unit (NCA) settlement. Malik Raiz says that he did not commit any financial wrongdoing and neither had the NCA held him guilty for any crime.

Taking it to social media, in a series of Tweets Malik Riaz tried to convet his stance, says: Some habituals are twisting the NCA report 180 degrees to throw mud at me. I sold our legal & declared property in the UK to pay 190M £ to Supreme Court Pakistan against Bahria Town Karachi. 1/2

In his next tweet, he added, “NCA press release says the settlement is a civil matter and does not represent a finding of guilt”. I am a proud Pakistan and I will remain until I breath my last. Pakistan Zindabad“.

Meanwhile on wednesday, While talking to media, the property tycoon that his children were overseas Pakistanis and British citizens. He said that only a settlement had been conducted on a civil matter. He inaugurated a Bahria Town office in Peshawar.

“The NCA says we didn’t commit any crime. The money should be brought back to Pakistan and others like me should also bring their wealth into the country,” he said.

He also talked about Bahria Town’s settlement with the Supreme Court according to which the company was supposed to pay Rs460 billion for land that it occupies in the Malir District.

“We have an understanding with the Supreme Court. We will pay back the money even if I have to sell my house,” he said.

Riaz said that he did not have any settlement with the government of Pakistan.

“As per the settlement with the court, this money will be given to Pakistan,” he said

Regarding the NCA, Malik Riaz was referring to an out-of-court £190m settlement between him and the agency.

Reportedly, the settlement also included a property worth £50 million. It originated as a result of an investigation into Riaz by the UK agency.

According to the NCA statement, “In August 2019 eight account freezing orders were secured at Westminster Magistrates’ Court in connection with funds totaling 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 UK crime agency had said that all assets would be returned to the state of Pakistan.