£190 million corruption case: Shehzad Akbar emerges as central figure in scandal

Another key figure involved in the agreement was Zia Mustafa Naseem.

By DTD- On Jul 12, 2025

ISLAMABAD: Mirza Shahzad Akbar, former chairman of the Asset Recovery Unit and former Accountability Advisor, has come under intense scrutiny in a high-profile corruption investigation involving £190 million. Media reports indicate that Akbar is alleged to be the mastermind behind a clandestine financial scheme that has severely impacted the Pakistani state.

According to sources, on November 6, 2019, Akbar signed a secret agreement facilitating the transfer of £190 million to a designated account held in the name of the Registrar of the Supreme Court of Pakistan. The agreement controversially listed the recipient account as belonging to the state of Pakistan, but several questions have since arisen regarding the legality and transparency of the transaction.

Another key figure involved in the agreement was Zia Mustafa Naseem. Records also reveal that Akbar made undisclosed trips to the United Kingdom in February and May 2019, where he reportedly met with the UK Home Secretary and officials from the National Crime Agency (NCA). These visits were conducted without the knowledge or involvement of crucial Pakistani institutions such as the Federal Board of Revenue (FBR), the Federal Investigation Agency (FIA), or the State Bank of Pakistan, raising serious concerns about the intent and transparency of the process.

Critics argue that bypassing relevant authorities undermines the legitimacy of the deal and casts doubt on Akbar’s motives. Further allegations suggest that on December 3, 2019, Akbar presented the agreement to the federal cabinet without revealing that he had signed the secret deal almost a month earlier, an act seen as misrepresentation and abuse of power.

Documents indicate that the UK’s National Crime Agency had already seized £120 million under the Proceeds of Crime Act 2002 by December 14, 2018, including high-value assets such as 1 Hyde Park Place. However, the investigation suggests that Akbar concealed the details of the funds’ repatriation, deliberately excluding key state institutions and violating principles of accountability.

Sources confirm that the investigation is ongoing and that further developments, including possible legal action against Shahzad Akbar, are anticipated as authorities delve deeper into the case.