A BUSINESSMAN from South Yorkshire jailed for his part in a multi-million pound mortgage scam has been ordered to pay back £90,000 to the authorities or face a longer prison term.
Sajid Mahmood, of Checkstone Avenue, Cantley, Doncaster, lied about his wife’s income and supplied forged documents to apply for loans totalling more than £2 million, with co-accused Munar Akhtar.
Mahmood, 44, splashed out on Ferrari and Aston Martin cars. Akhtar, who is the same age, rebuilt his home in “magnificent splendour”.
The pair lied on applications to secure the mortgages from banks including Northern Rock, Birmingham Midshires, The Woolwich and the Royal Bank of Scotland.
Mahmood appeared at Sheffield Crown Court for a Proceeds of Crime Act hearing and his assets were valued.
He was ordered by a judge to pay back £90,000 to the authorities within six months.
If he fails to pay, he will face an extra 20 months in prison.
At the trial, Akhtar claimed his wife, Munira Bhatty, earned up to £100,000 a year at Taj Mahal Food Industries, when tax records showed a turnover of £6,000 between 2004-2006. She worked as a clerk at Doncaster Council in 2004.
Mahmood downloaded fake P60s and wage slips and filled them out in his wife’s name.
The investigation began when police uncovered nearly £330,000 in cash from a bedroom above the Taj Mahal Indian restaurant at Hall Gate, Doncaster. Akhtar was company director of Nadia Homes Ltd, based at the Hall Gate premises. Mahmood helped run the restaurant.
They were found guilty of obtaining money transfers by deception. Mahmood was convicted of attempting to obtain money transfers by deception.
Three other defendants, including Ms Bhatty, were cleared of all charges.
Jailing the two men, Judge Robert Moore said they were important members of their community who had pushed the boundaries of honesty to get spare capital.
Akhtar was jailed for two years and Mahmood for nine months. Akhtar, of Bawtry Road, Cantley, Doncaster, faces a Proceeds of Crime hearing at Crown Court in June.