Shehzad Akbar Implicated as Mastermind in £190 Million Corruption Scandal

Investigators have named Shehzad Akbar, former chief of Pakistan’s Asset Recovery Unit (ARU) and ex-special assistant to the prime minister on accountability, as the alleged architect of a £190 million corruption scheme. The case centers on the diversion of funds from a UK National Crime Agency (NCA) settlement meant for Pakistan’s national treasury into private accounts.  

Documents reveal Akbar signed a questionable Deed of Confidentiality in November 2019 prior to key government approvals, a move investigators describe as deliberate concealment. The £190 million – originally part of a civil settlement with Britain’s NCA – was illegally transferred to an account falsely registered under the Supreme Court Registrar’s name, while actually benefiting a private Karachi housing society. Co-accused Ziaul Mustafa Naseem also participated in the fraudulent transaction.  

This scandal exposes glaring failures in Pakistan’s financial oversight mechanisms, particularly concerning the ARU – an institution created to recover stolen assets, not misappropriate them. Investigators allege the accused fabricated documentation to portray the transfer as legitimate government business, while systematically diverting funds for private gain. The timing of Akbar’s confidential agreement, signed before official approvals, suggests premeditated deception.  

The case represents a serious test for Pakistan’s accountability framework, particularly given Akbar’s former role as the government’s anti-corruption czar. As evidence mounts, the scandal raises uncomfortable questions about how such massive diversions could occur under official oversight. The investigation’s outcome will demonstrate whether Pakistan’s institutions can hold powerful figures accountable, regardless of political connections or past positions of authority.