According to sources, Akbar acted as the mastermind behind an illegal scheme that caused significant financial losses to the country.
As part of the investigation, it was revealed that Akbar signed a deed of confidentiality on November 6 2019, ahead of the formal approval of the ARU’s restructuring and a key cabinet meeting, a move investigators cite as evidence of bad faith.
According to the findings, the £190 million, part of a civil settlement with the UK’s National Crime Agency (NCA), was diverted to a “designated account” in the name of the registrar of the Supreme Court.
The amount was originally held in the responsibility account of a major private housing society in Karachi.
The agreement was also signed by co-accused Ziaul Mustafa Naseem. Investigators stated the funds were falsely portrayed as being transferred to an official account of the State of Pakistan, while in reality, they were redirected to benefit a private entity.