News
Former football investor jailed for part in mortgage fraud racket
A former business associate of the investment firm which took over the Bolton Wanderers football club has been jailed for his involvement in a mortgage fraud gang.
The Bolton News, reported that Michael Collins was sentenced to four years and three months in prison after he was convicted of conspiracy to commit fraud and produce fraudulent documents at Warwick Crown Court.
He was described as the commercial broker and middle man between Mehboob Akhtar, the main player in the fraud ring, and his daughter Rushbamani Akhtar.
With the help of Collins, Mr Akthar obtained several mortgages, all of which were later found to be fraudulent as he had lied about his annual earnings, address and marital status.
As part of the ruse, he built a buy-to-let property portfolio that included 70 properties, both commercial and residential, in the Fenton area of Stoke-on-Trent.
Collins was the last of 10 defendants to be tried and sentenced having already spent six months in prison for contempt of court for falsely claiming he had health issues in a bid to hinder proceedings.
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Detective chief inspector of Staffordshire Police, Phil Duffy, said: “The sentencing brings a successful conclusion to a very long and complex investigation by a small team of dedicated officers and staff who were determined to see justice done.”
Gary Forbes, assistant director of the Fraud Investigation Service at HMRC, added Collin’s sentence was the culmination of a long and pain-staking investigation of people who thought they were above the law.