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Mortgage fraudster to serve additional 10 years

A statement from the Serious Fraud Office said that Mr Afzal was conficted of mortgage fraud and originally sentenced in June 2011 to 13 years in prison for his part in a £49m scam.

The offences, committed between 1 April 2004 and 15 January 2006, involved two counts of conspiracy to obtain money transfers by deception, from what his honour judge Beddoe called a “massive and carefully orchestrated confidence trick”.

The SFO statement also revealed that Mr Afzal and his accomplices duped banks and building societies of almost £50m, by applying for overpriced mortgages on properties that had been valued by Hertfordshire-based surveyor Ian McGarry.

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Mr Afzal and Mr McGarry were found guilty on 14 June 2011. In August 2011, Mr Afzal was ordered to pay a £29.8m confiscation order within six months or he would incur a default prison sentence of 10 additional years. MR McGarry was ordered to pay back £1.55m.

Mr Afzal had paid £92,538 towards the original confiscation order, although his failure to pay the outstanding balance automatically triggered the default sentence.

A spokesman for Westminster Magistrates Court confirmed a closed enforcement hearing was held on Tuesday 3 December over Mr Afzal’s outstanding balance.

An SFO spokesman said the outstanding balance of £30.96m is accruing interest at almost £6400 a day.