Tax funds spent on Dubai home

Bro­ker sen­tenced on eva­sion charge

Harefield Gazette - - NEWS - By Steve Bax steve.bax@trin­i­tymir­

A CROOKED mort­gage bro­ker from Hilling­don who lied about his prof­its to evade al­most £115,000 in tax has dodged jail.

Asim Hus­sain, of Long Lane, Hilling­don, was given a two year sus­pended jail sen­tence South­wark Crown Court on July 31.

The 42-year-old de­fen­dant, who was di­rec­tor Lifestyle Mort­gages (Mid­dle­sex) Ltd, had di­verted com­pany in­come into other bank ac­counts to pay less cor­po­ra­tion tax, HM Rev­enue and Cus­toms (HMRC) said.

Hus­sain then spent the money to fi­nance a prop­erty in Dubai, over­pay on his mort­gage and buy land as an

of in­vest­ment. Gary Forbes, As­sis­tant Di­rec­tor, Crim­i­nal In­ves­ti­ga­tion, HMRC, said: “Hus­sain learned the hard way that crime does not pay – he now has a crim­i­nal record and his rep­u­ta­tion and ca­reer are in tat­ters.

“What he did was illegal and im­moral – he used the money that should have gone back into fund­ing some of the UK’s most vi­tal public ser­vices to in­vest in his prop­erty and en­joy a lifestyle most hon­est taxpayers can only dream of.”

DC Philip Palmer said the sen­tenc­ing was the re­sult of a co­or­di­nated ap­proach by the Met, HMRC and the Fi­nan­cial Con­duct Au­thor­ity (FCA) and should send a strong mes­sage to the fi­nan­cial and bank­ing com­mu­nity that fraud and cheat­ing will not go un­pun­ished.

The FCA’s pre­de­ces­sor, the Fi­nan­cial Ser­vices Au­thor­ity, be­came sus­pi­cious of Hus­sain when a len­der high­lighted its con­cerns re­gard­ing dis­crep­an­cies in re­la­tion to mort­gage ap­pli­ca­tions sub­mit­ted by him, which were based on false and mis­lead­ing in­for­ma­tion. He was trad­ing at the time as Lifestyle Mort­gages and was based in South Road in Southall.

He was found guilty of fal­si­fy­ing mort­gage ap­pli­cants’ in­come and em­ploy­ment de­tails and at a sep­a­rate hear­ing ad­mit­ted cheat­ing HMRC.

HMRC are pur­su­ing the £115,000 of Cor­po­ra­tion Tax owed. Con­fis­ca­tion pro­ceed­ings have started by the MPS to re­cover crim­i­nal prof­its.

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