ISLAMABAD – British National Crime Agency NCA gives a blow to the formerPM Nawaz Sharif son Hussain Nawaz in frozen property case.
The National Crime Agency (NCA), UK agreed settlement of property andassets worth £190 million belonging to a prominent Pakistani businesstycoon in frozen funds investigation, media reported on Tuesday.
The property was previously owned by former prime minister Nawaz Sharif’sson Hussain Nawaz, who sold it to the business magnate prior to the Panamascandal.
Reportedly, officials of the NCA carried out investigation in the case. TheNCA officials said that a settlement offer in the region of £190 millionhas been accepted and the amount will be returned back to Pakistan.
They maintained that the NCA also seized another property worth £50 millionof the business personality in London.
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The NCA has agreed a £190m settlement with a family that owns largeproperty developments in Pakistan and elsewhere after a frozen fundsinvestigation.
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Earlier in August 2019, orders to freeze eight accounts were secured atWestminster Magistrates’ Court to investigate funds worth £120 million. InDecember 2018, account freezing orders were also sought for theinvestigation of £20 million. All of the account freezing orders relate tomoney held in UK bank accounts.
The NCA has accepted a settlement offer in region of £190 million whichincludes a UK property, one Hyde Park Place valued at approximately £50million and all of the funds in the frozen accounts.
Earlier this year, the efforts of Prime Minister Imran Khan and SpecialAssistant to PM for Accountability Shahzad Akbar yielded positive resultsafter the government signed a pact with the British government overextradition of accused involved in corruption cases and seizing assets andproperty in the United Kingdom.
Negotiations were held from both sides over the matter and the Britishauthorities agreed to cooperate with Pakistani government.
