The £190 million corruption scandal has unraveled with damning revelations implicating former Chairman of the Asset Recovery Unit (ARU) and ex-Adviser to the Prime Minister on Accountability, Mirza Shehzad Akbar, as the principal architect of a highly organized and unlawful scheme.
This is not mere negligence— it is betrayal. And the time has come for the people of Pakistan to demand accountability not just from individuals, but from entire political forces that have systematically looted the state while masquerading as its saviours
Sources confirm that Akbar orchestrated a clandestine operation that inflicted severe financial losses upon the Pakistani state while gravely undermining national interests. This scandal, which has brought international disrepute to the country, starkly illustrates how individuals entrusted with power can manipulate their authority to serve private agendas and vested interests.
Investigations reveal that on 6 November 2019, Shehzad Akbar signed a Deed of Confidentiality, marking the beginning of this illicit conspiracy. Notably, this act was carried out without the knowledge or approval of the federal cabinet or any constitutional institution— clear evidence that it was part of a premeditated and covert manoeuvre.
It has further emerged that the £190 million, originally frozen by the UK’s National Crime Agency (NCA) during investigations against Ali Riaz Malik and his wife Mubashara Malik, was returned to Pakistan under the guise of transparency. However, instead of being deposited into the national treasury, the funds were rerouted to a designated account of Bahria Town— a private real estate developer. This account was deliberately misrepresented as an account of the “State of Pakistan.” According to sources, co-accused Zia Mustafa Naseem also signed the same confidentiality deed and facilitated the entire transaction. The registration of this special account under the name of the Supreme Court’s Registrar, while falsely identifying it as a State Bank account, is further evidence of gross financial misconduct.
In 2019, Shehzad Akbar made two trips to the United Kingdom— from 4 to 8 February and again from 22 to 26 May— during which he held secret meetings with the British Home Secretary and senior officials of the NCA. These meetings laid the groundwork for a covert agreement that enabled the repatriation of funds to Pakistan— conspicuously bypassing key institutions such as the Federal Investigation Agency, the Federal Board of Revenue, and the State Bank of Pakistan. The deliberate exclusion of these state bodies was designed to avoid scrutiny and ensure that only a select group benefited from the transaction— at the expense of national transparency and public interest.
What makes the situation even more troubling is that when the matter was brought before the Cabinet on 3 December 2019, Shehzad Akbar failed to disclose that the secret agreement had already been signed weeks earlier on 6 November. This omission was not an oversight— it was a deliberate act of deception. Records now confirm that all critical procedures related to the fund transfer were completed well before the cabinet’s formal approval, revealing a blatant misuse of executive power and manipulation of state machinery.
The frozen assets in the UK, including luxury properties such as 1 Hyde Park Place, were seized under the UK’s Proceeds of Crime Act 2002 following investigations into alleged illicit wealth. The return of these funds presented a rare opportunity for Pakistan to inject a significant amount into the national exchequer— resources that could have been allocated toward public welfare projects in health, education, and clean water. Regrettably, this opportunity was squandered through backdoor deals and unauthorized use of executive power, leading not only to financial loss but also to a severe erosion of international trust.
Court records and insider accounts confirm that the Asset Recovery Unit had already entered into a preliminary agreement with Bahria Town on 13 and 21 March 2019, following multiple contacts with UK authorities and legal representatives in London. Though the full details of these arrangements remain opaque, the documents available clearly point to Shehzad Akbar’s role in devising the scheme— with strong indications of political backing and legal overreach. Statements from former Prime Minister Imran Khan and his Principal Secretary Azam Khan further confirm that covert meetings with the NCA regarding this settlement had taken place as early as March 2019.
The entire episode underscores how Shehzad Akbar not only exceeded the legal boundaries of the ARU but also colluded with the then Prime Minister to bypass state institutions, compromise judicial transparency, and mislead the Cabinet. His actions directly undermined public institutions, the judiciary, and the integrity of the country’s accountability mechanisms. Deliberately concealing the existence of a confidential agreement from the Cabinet amounts to wilful betrayal and abuse of office.
Sources now confirm that the National Accountability Bureau (NAB) and other relevant agencies are actively pursuing the case, and crucial evidence has already been unearthed. Shehzad Akbar has been declared a proclaimed offender, and proceedings are underway to request Interpol Red Warrants for his extradition. Pakistan’s judicial and investigative institutions are under increasing pressure to bring such individuals to justice— sending a clear message that abuse of public office for personal gain will not be tolerated.
The magnitude of this scandal is staggering: £190 million— equivalent to Rs 50 billion— was diverted from the national treasury to a private housing scheme. Had this amount been placed in state coffers, it could have funded countless development projects, benefitting millions. Instead, the funds were lost to a well-orchestrated network of corruption, deception, and political patronage— leaving the nation to bear the cost.
This scandal now stands as a dark chapter in Pakistan’s history— a glaring indictment of the country’s accountability system and a cautionary tale about the dangers of unchecked executive power. When individuals like Shehzad Akbar, entrusted with the public’s trust and holding senior positions, engage in clandestine agreements and exploit legal loopholes, they don’t just commit corruption— they corrode the very foundation of democratic governance.
It is now the solemn duty of the state and its institutions to set an example— those who betray public trust must be held accountable, without fear or favour. Only through firm and transparent action can Pakistan hope to restore institutional credibility and prevent such breaches from ever recurring.
This case does not implicate Shehzad Akbar alone. Mounting evidence points toward the complicity of former Prime Minister Imran Khan, who not only sanctioned these illicit actions but remained complicit through silence and obstruction. His principal secretary’s testimonies, cabinet manipulations, and failure to ensure state oversight reveal a systemic betrayal of the people of Pakistan.
Worse still, the entire PTI leadership, which today preaches accountability and transparency from political platforms and foreign capitals, actively facilitated this massive financial crime. While they campaign abroad under the guise of “justice” and “democracy,” they continue to work against Pakistan’s image, economic stability, and institutional integrity.
This is not mere negligence— it is betrayal. And the time has come for the people of Pakistan to demand accountability not just from individuals, but from entire political forces that have systematically looted the state while masquerading as its saviours.
