Over £190m of UK assets have been seized from property tycoon Malik Riaz Hussain. Hussain, who owns Asia’s largest private property developer, Bahria Town, has agreed to settle a UK ‘dirty money’ investigation. The assets, including a £50m mansion overlooking Hyde Park, will be handed over to the government in Pakistan, where Hussain is charged with fraud and corruption. The seven-floor, grade-II mansion on Hyde Park Place has 10 bedrooms and includes a cinema, swimming pool and spa. It was previously listed for rent on Zoopla for £86,667 a month. Hussain denies any wrongdoing.
The Guardian
Access the full EG article for free
Register now and read two complimentary EG articles in full every week and discover why EG’s trusted real estate intelligence is essential for your business
Register
Find Out More