Wednesday July 06, 2022

British Pakistani brothers to pay NCA Rs1.1bn in civil recovery action

June 24, 2022

LONDON: Two British Pakistani brothers from the Bradford area have agreed to pay the National Crime Agency (NCA) approximately £4.3 million (Rs1.1 billion) following a civil recovery investigation into their multi-million pound property portfolio.

The NCA had alleged that the property portfolio of two brothers - Parvez Akhtar (55), known locally as 'Boney' and Zaheer Akhtar Nazir (50) - was funded by the proceeds of their unlawful conduct including money laundering and fraud.

Parvez Akhtar and Zaheer Akhtar Nazir have been property developers in the Bradford area for over 30 years, controlling a large portfolio. During the case at the London High Court, the NCA alleged the brothers used their property portfolio to launder hundreds of thousands of pounds worth of criminal monies on behalf of other prolific criminals.

The NCA further alleged that Akhtar has been involved in a range of serious criminality since the 1990s including international VAT fraud, money laundering and fraud. The evidence uncovered by the investigationshowed he had links to a number of serious organised criminals both in the UK and overseas.

Akhtar is well known in the Bradford area and has previously appeared in YouTube videos showing off his high value cars and sporting memorabilia, said the NCA in a press release. Andy Lewis, Head of Civil Recovery at the NCA said: “Taking the proceeds of crime off individuals such as these brothers is particularly significant for the Bradford community. Through this work we have sent a clear message that no one is above the law, while simultaneously taking away the ability of the pair to benefit from what we assessed as the proceeds of crime.

"This action demonstrates to the criminal fraternity that we will use every available tool to disrupt and help prevent money laundering by criminals and their associates.”

The NCA said that the settlement with two brothers will include a three storey town house in Paddington, West London worth approximately £1.75 million and 2 properties in Yorkshire worth approximately £300,000.

The £4.3 million agreed figure, it's understood, is a gross figure and will need to take into account outstanding debt on properties forfeit. The civil recovery order was reached by agreement and does not amount to an admission of guilt by Parvez Akhtar or Zaheer Akhtar Nazir, said the NCA.