Property buyer in £2.5m fraud ordered to pay £110,000

A property buyer convicted for his role in a £2.5m mortgage fraud has been ordered to pay £110,690 under the Proceeds of Crime Act.

Jason Omar, 43, was sentenced to two-and-a-half years imprisonment last April after Teesside Crown Court found him guilty of using fraudulent methods to obtain £2.5m in mortgage finance to purchase properties in Middlesbrough worth around £1.5m. Omar was found to have lied about the level and source of his own income as well as lying about the purchase price of the properties in question.

He also lied about the nature of his business and denied knowledge of previous convictions against him.

Teesside Crown Court has now ordered Omar to repay the sum of £110,690 within six months or warned that he faces another two years in prison.

Prosecutor Simon Myers says: “These offences were fraudulent from the outset. They were carried out over a significant period of time and there were multiple frauds.”