ISLAMABAD – The Islamabad High Court recently overturned freezing orders on multiple properties belonging to British Pakistani businessman Nisar Ahmed Afzal.
In a case initiated upon the request of the UK’s National Crime Agency (NCA) concerning an alleged £60M Birmingham Mortgage fraud, the court highlighted the National Accountability Bureau’s (NAB) overbearing actions and lack of substantiating evidence.
Despite the Serious Fraud Office (SFO) in the UK discontinuing its probe against Afzal in November 2021 due to insufficient evidence, the NAB proceeded to freeze his assets. This action was based on the UK government’s 2017 request, accepted by the NAB in 2021, long after the initial case concluded. Notably, the frozen properties, including those in Islamabad, were acquired before the alleged UK offense.
Initially, the NCA lodged a complaint in 2017, alleging Afzal and others were involved in a £60 million Mortgage Fraud in the UK from 2004 to 2006. However, the NAB took no action until September 2021 and, until now, hasn’t forwarded the case to any court or concluded its investigation.
The judges criticised the NAB’s prolonged freezing orders, emphasizing that the law doesn’t allow indefinite property seizure without legal proceedings or complaints filed in court. They condemned the NAB’s actions, calling attention to the agency’s lack of evidence and disregard for the law’s confines. They allowed Afzal’s petitions, setting aside the freezing orders.
This case, spanning 15 years, saw Afzal contesting allegations of fraud and emphasizing his innocence. He had faced legal challenges in both the UK and Pakistan, maintaining that he was unfairly targeted and expressing his relief when the UK’s investigation was closed.
