Former chairman of the Asset Recovery Unit and ex-adviser on accountability Mirza Shehzad Akbar has emerged as the central figure in the ongoing investigation into a major £190 million corruption case, according to informed sources.

Allegations suggest he acted as the mastermind behind a covert financial scheme that inflicted substantial losses on the Pakistani state.

The sources revealed that on November 6, 2019, Akbar signed a deed of confidentiality’, a secret agreement that paved the way for the transfer of £190 million into a designated account under the name of the Registrar, Supreme Court of Pakistan.

The deal, crucially, listed the recipient account as belonging to the State of Pakistan, though questions have been raised about the process.

Another key signatory to the agreement was Zia-ul-Mustafa Naseem, while official records indicate that Shehzad Akbar made secret visits to the UK in February and May 2019, meeting with the UK Home Secretary and officials from the National Crime Agency (NCA).

These visits, conducted without involving institutions like the FBR, FIA, or the State Bank of Pakistan, have triggered concerns about intent and transparency.

Critics argue that excluding relevant institutions from the roadmap raises serious red flags about the deal’s legitimacy and motives.

On December 3, 2019, Akbar presented the agreement before the federal cabinet, allegedly without disclosing that he had already signed the confidential deal nearly a month earlier — a move being interpreted as misrepresentation and abuse of authority.

Documents show that the UK’s National Crime Agency had already seized £120 million before December 14, 2018, under the Proceeds of Crime Act 2002, which included assets such as Hyde Park Place 1.

The investigation further reveals that Akbar kept the process of fund repatriation under wraps, bypassing key state institutions and violating principles of transparency and accountability.

The sources indicate that further developments are expected in the case, and legal action against the former adviser remains a strong possibility as the investigation deepens.