INSUBCONTINENT EXCLUSIVE:
A business tycoon has agreed to hand over £190 million in cash and assets - including a £50m London home - over accusations they were the
proceeds of crime.The National Crime Agency (NCA) said on Tuesday it had agreed the total settlement figure with Malik Riaz Hussain, founder
of Asia's largest privately held property development company Bahria Town, and his family.As part of the settlement, the Pakistani national
will hand over One Hyde Park Place, a Grade II listed 16,000sq ft (1,486sq m) family home overlooking central London's famous park, which is
valued at £50m.Image:Pakistani tycoon Malik Riaz Hussain's company has handed over £190m to British authoritiesThe NCA had already frozen
eight UK bank accounts totalling £120m in August, after £20m was frozen in another UK account in December 2018 as part of the same
investigation.British authorities have been responsible for acquiring the cash and assets which will be returned to the Pakistan
government.Hussain's company is one of the largest private sector employers in Pakistan.Coming from humble beginnings, he made his name by
building gated communities first for the Pakistan Navy and then across the country.Known for his shrewd business dealings, his Bahria Town
Karachi project is Asia's largest private project, covering 46,000 acres (72sq mi) with plans for the world's third largest mosque, a
cricket stadium and a 36 hole PGA golf course.The UK freezing orders were on the cash and assets rather than against any individual, and the
settlement is a civil legal procedure that does not represent a finding of guilt.
