NAB takes credit for Rs41b ‘recovered’ in NCA, Malik Riaz deal

Islamabad (HRNW) The National Accountability Bureau (NAB) has taken the credit for recovering Rs41 billion which was to be repatriated to Pakistan following a deal between the family of property tycoon Malik Riaz Hussain and the UK’s premier anti-money laundering watchdog, the National Crime Agency (NCA).

Parliamentary documents available with media Investigation Unit (SIU) show that the National Accountability Bureau (NAB) made indirect recoveries worth Rs41.30 billion through the voluntarily return deal between Bahria Town’s Chief Executive Officer (CEO) Malik Hussain and National Crime Agency (NCA) of the United Kingdom (UK).

The details were submitted to the parliament in 2021 by an Additional Director at the National Accountability Bureau (NAB) Headquarters in Islamabad in response to a question asked by Senator Saleem Mandviwala from the then-federal law and justice minister Farogh Naseem. Senator Mandviwala had sought details of the recoveries made by NAB in three years, complete with a breakup of each case and individuals from whom the recoveries were made.

The documents showed that between 2019 and 2021, the anti-corruption watchdog had made recoveries under three heads. These included voluntary returns (VR) and or plea bargains (PB), court fines imposed and indirect recoveries.

The documents showed that NAB made recoveries worth Rs556 billion over the three years. This included Rs141.542 billion in 2019, Rs323.299 billion in 2020, and Rs91.195 billion in 2021.

Of the total, some 40.796 billion was recovered through voluntary returns or plea bargains, Rs10.823 billion in court fines and Rs504.417 billion in indirect recoveries.

 

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