Recent U.S. court filings in litigation between The Resource Group International Limited (TRGI) and its former CEO Zia Chishti depict a sharply deteriorating financial position for Chishti, as multiple creditors converge on a limited and increasingly illiquid asset base.

Documents filed in March and April 2026 in Case No. 1:25-cv-01021-JSR in the Southern District of New York show that the centerpiece of the dispute remains a 2025 arbitration award in favor of TRGI totaling approximately $9.05 million, of which roughly $8.4 million remains unpaid. TRGI is now seeking enforcement against assets held both by Chishti and in the name of his wife, and has already secured a transfer of Chishti’s shares in TRGI to a receiver in Bermuda.   

The filings also indicate that the Internal Revenue Service is actively pursuing Chishti for more than $10 million in unpaid tax liabilities arising from over $60 million he received from TRGI-related transactions in 2022. Critically, the documents suggest that Chishti had sufficient liquidity to pay these taxes when he filed in 2023 but chose not to do so, instead deploying those funds toward legal and other expenses. He now claims to have less than $70,000 in liquid assets and only “mere thousands” readily available in the United States, rendering him unable to meet those obligations. 

Chishti resigned all his positions at TRG and its portfolio companies in November 2021, after disclosure in a US Congressional hearing of an arbitration award against him for sexual harassment, assault and battery of an ex-employee. Since then, TRG’s existing management has alleged that Chishti, allied with the Jahangir Siddiqui (JS) Group have been trying to illegally take over the company, and there has been extensive litigation in Pakistan, the United States and Bermuda.   

A central battleground in the enforcement litigation in the United States is the transfer of substantial wealth primarily in 2022 and 2023 by Chishti to his wife, which was then used to acquire assets in her name. Court filings describe transfers of approximately $18 million in late 2022 alone to fund purchases of TRG Pakistan Limited (TRG-P) shares, along with additional multi-million dollar transfers in 2023. In parallel, roughly $14 million was invested into the startup Isbei, largely funded by Chishti through equity injections and shareholder loans. 

However, these assets mainly shares of PSX-listed TRG Pakistan Limited (TRG-P) and investments in the startup Isbei are themselves encumbered or subject to legal restrictions or largely illiquid.  TRG-P shares have been pledged to lenders such as JS Bank and are also subject to court-imposed constraints on transfer, while Isbei remains a private venture with capital tied up in equity and loans rather than cash. 

The net effect is stark: a steady transfer of assets out of Chishti’s name has not translated into usable liquidity. Instead, both his and his wife’s holdings are now locked in forms that are difficult to access, sell, or deploy, limiting their ability to satisfy a growing pool of liabilities, estimated to exceed $30 million.

With active IRS enforcement, multiple creditor claims, and a largely illiquid asset base, the couple’s financial position appears increasingly fragile. Analysts reviewing the filings suggest that Chishti’s total liabilities may now exceed his accessible assets making this not only a question of total wealth but also one of whether any of it can even be realized in time to meet mounting obligations.