A property entrepreneur who was jailed for £1m mortgage scam will have to return to court for a Proceeds of Crime hearing.
In February, married father-of-four Shazad Arshid was locked up for 32 months after he masterminded the scam which involved fraudulent mortgage applications for properties in Huddersfield and Bradford.
Arshid, of York Avenue, Fartown, used false income and employment details on the applications and got associates to act as prospective purchasers.
The 37-year-old, who ran a legitimate property business, admitted conspiracy to defraud Kirklees Council in relation to housing benefits as well as further charges relating to various mortgage applications.
Arshid’s case was back before Judge Colin Burn at Bradford Crown Court yesterday when a further hearing was fixed for January 10 next year.
Lawyer Rachim Singh, for Arshid, told the judge that the parties were “fairly close” to agreeing a figure in relation to his client’s available assets, but there was still discussion about his benefit from criminal conduct.
If an available assets figure can be agreed, Arshid would be ordered to repay the sum under the Proceeds of Crime Act legislation or face a further period in custody in default.
At Arshid’s sentence hearing earlier this year, Mr Singh stressed that it was not a case involving the disappearance of a large sum of money which was used to fund “a lavish lifestyle of expensive cars or holidays”.
Mr Singh said Arshid was a man of exemplary previous character who had helped drug addicts and the homeless with accommodation.