01 Oct 2019
Pakistan’s government is facing an embarrassing high court case after allegedly failing to pay a multimillion-pound bill for tracking down properties once owned by the country’s disgraced former prime minister Nawaz Sharif.
The asset recovery firm Broadsheet has launched an unusual claim for about £17m against the country and its anti-corruption agency, the National Accountability Bureau (NAB).
It plans to apply to take possession of Avenfield apartments, four luxury flats in Park Lane, central London, which were the homes of Sharif’s family in the capital.
Sharif is appealing against his conviction for corruption from an Islamabad jail. He was jailed for seven years in December last year on corruption charges.
The apartments, in a block next to Hyde Park on the edge of Mayfair, were used to raise a £7m mortgage and would probably be worth more than £8m today. The corruption case highlighted the ease with which London’s property market could be used to move money from abroad.
Stuart Newberger, a senior partner at the Washington-based law firm Crowell and Moring, which represents Broadsheet, said the high court had previously ruled in a private hearing that Pakistan owed his client about $22m for helping help locate and repatriate the corrupt assets of Sharif.
By Rajeev Sval, The Guardian, 30 September 2019
Read more at The Guardian
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