Pakistan's "property king", Malik Rijaz Husain, is giving up £190 million in the UK in exchange for dropping an investigation into whether his money in a British bank was ill-gotten gains.
Husain is one of Pakistan's richest and most influential businessmen.
That largest private entrepreneur is involved in corruption investigations, but at the same time he is one of the major donors for humanitarian purposes, reports Hina.
Britain's National Crime Agency (NCA) announced that it had reached a settlement with Husain to take possession of the property at 1 Hyde Park Palace, worth £50 million, and cash frozen in British bank accounts.
The NCA had previously agreed to freeze Hussain's accounts containing around £140 million on suspicion that the money was ill-gotten gains.
The property will be handed over to the government in Pakistan, the agency said.
He claims the settlement with Husain is "civil and not an admission of guilt."
The settlement reached revives the hope of Pakistani Prime Minister Imran Khan, who ranked the war against corruption at the top of his priorities, but has so far failed to return to his homeland the billions of dollars that, as his government claims, opposition politicians took to bank accounts abroad.
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