'Lifestyle' fraudster admits £2.2m mortgage con

'Lifestyle' fraudster admits £2.2m mortgage con


A man who obtained over £2 million through mortgage fraud has been served with a confiscation order of £65,600 after admitting to the scam.

According to BBC reports, Faruk Al Haidary, 47, was jailed for 30 months this year and was ordered to repay the five-figure sum after Glasgow Sheriff Court heard that he used fake P60s, fake wage slips and fake driving licences which contained photographs of other individuals, in mortgage applications.

The repeated applications, a Crown press release stated, were for the purchase of heritable properties in Glasgow mainly being sold by Faruk Al Haidary, his relatives or another individual.

Between 2004 and 2007, Al Haidary fraudulently obtained £2,175,142 from lenders which has resulted in these firms losing a total of £587,964, the reports confirmed.

Commenting on the repayment order, Lindsey Miller, Head of the Serious and Organised Crime Division said the fraudster was part of a "sophisticated criminal enterprise".

She continued: "The number of mortgage frauds committed by the accused as part of this scheme, make this a lifestyle offence under the Proceeds of Crime Act, therefore the Crown was able to look at all of Al Haidary's income over the six years preceding his arrest.

"The court found that £2,378,740 of his income during this time could not be accounted for legitimately.

"We are satisfied that the £65,600 confiscation order represents the amount of money available to us from Al Haidary at this time."

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