It has emerged that a mortgage fraud which took place earlier this year was actually for an amount three times higher than was first thought.
In April 2016, nine members of a mortgage fraud group were jailed when it was discovered they had defrauded over £4.4 million. It’s now been found that the total was £15,569,554 – a significantly higher sum.
Led by Mehboob Akhtar, the gang also included two mortgage brokers, as well as two of his own family members.
Akhtar was also known as Saint Pir Pandariman and claimed to be a spiritualist faith healer. He also ran a charity located in Stoke-on-Trent, advocating the teaching of Islamic education and enlightenment, as well as aiming to reduce poverty in the local area.
Using the donations received between 2003 and 2014, Akhtar was able to a grow a portfolio of over 40 buy-to-let properties, applying for mortgages using the names of his family members.
When the forged documents relating to the fraud were found by police, Akhtar was jailed for 14 years. It was found he had committed eight offences of conspiracy to commit fraud, as well as cheating HM Revenue & Customs. Following an appeal, this sentence was then reduced to 11 years.
Akhtar’s wife Kadjia received a 4 year and three-month sentence, whilst his daughter Rushbamani was sentenced to three years and six months.
The other members of the group received jail terms of between one and six years, apart from Akhtar’s ‘right hand man’. Confessing to his role in the fraud, Mohammed Hussain was sentenced to seven years.
Following the emergence of the fraud’s true extent, the gang members now have a three-month deadline in which they are to return the funds by. The amount varies between each individual, and if not paid back, will result in a longer sentence.
During the hearing, Judge Stephen Ayre highlighted how Akhtar had taken advantage of his role within the community, telling him: “You used the prestige and devotion of others to facilitate this offending. Your role as a spiritual guide provided cover and you financed your activities through donations obtained in part because of your spiritual role.”
