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Man loses properties acquired through mortgage fraud

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  • 31/01/2020
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Man loses properties acquired through mortgage fraud
The National Crime Agency (NCA) has recovered houses and cash worth £465,000 following a financial investigation into property held by a 41-year-old man from Bradford.

 

The assets were seized from Arfan Ali after the NCA discovered they had been acquired from the proceeds of mortgage fraud, money laundering and tax evasion. 

Ali acquired five properties all located in the Bradford area over a ten-year period. The money recovered from the bank accounts amounted to £30,000. 

Billy Beattie, NCA senior manager, said: “The defendant in this case had built up a property portfolio in the Bradford area, funded by the proceeds of crime. 

“It is essential to the economic and social wellbeing of areas like Bradford, and the whole of the UK, that assets are acquired lawfully. The NCA uses all of the powers available to us to target illicit wealth.” 

The recovery order was granted at the High Court on 22 January 2020. 

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