December 3, 2019

NCA resolves asset freezing orders totaling £190 million

The UK National Crime Agency has agreed upon a settlement with the family of Malik Riaz Hussain regarding nine asset freezing orders issued in December 2018 and August 2019.  Hussain, a Pakistani citizen who founded one of the largest privately held real estate development companies in Asia, may be under investigation for bribery offenses in Pakistan.  The eight Account Freezing Orders granted in August 2019 by the Westminster Magistrates Court covered more than £100 million suspected to have derived from bribery and corruption outside the UK, and are the largest ever granted to the NCA.  The civil settlement with Hussain’s family includes a £50 million property in central London, and £140 million of funds in the frozen bank accounts.  The assets will be returned to the state of Pakistan.

NCA press release