Skip to content
Search

Latest Stories

Conman convicted in UK’s biggest cyber fraud faces confiscation hearing

A PAKISTANI-origin man convicted in the UK’s biggest ever cyber fraud case is now facing a confiscation hearing in a British court.

The mastermind in the vishing scam, Feezan Hameed Choudhary, 28, was jailed for 11 years in 2016.


Choudhary spent millions on shopping, wild parties with pop stars, and luxurious leisure activities, Southwark Crown Court heard.

The fraudster and his gang members had tricked 750 RBS and Lloyds customers out of a total of £113m.

Now, the British Asian has been dragged back to the court for a confiscation hearing and the legal proceeding is yet to complete.

Choudhary had benefited from a sum of £19m of the money the scam yielded.

Edward Franklin, prosecuting was quoted in the Daily Mail: “Of that £19m we conclude that £14.8m is recoverable.”

He told the court that it was up to the defendant to prove that he did not have the money.

Muhammad Azhar, another convicted in the scam who proved to be a main, credible witness during the trial.

According to Azhar, Choudhary managed to get up to £1.5m a month during the scam.

Franklin said: “If Azhar is right the defendant could have received around £17 million in the period of the indictment alone." But added the total benefit was estimated to be £19 million.

It is average of £500,000 - £1.5m for 34 months between January 2013 and October 2015.

Choudhary had transferred the money to the bank accounts in Pakistan and purchased a villa with live-in chefs and servants.

The gang had legitimate bank, telephone numbers to cheat the victims easily.

Choudhary was detained when he was trying to board a flight from Paris to Pakistan with a fake passport in 2015 and later handed-over to British authorities for legal proceedings.

More For You

Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Pakistan’s government is the largest shareholder or owner of most power companies

Pakistan seeks £3.4bn bank loan to tackle mounting energy sector debt

Eastern Eye

PAKISTAN government is negotiating a 1.25 trillion Pakistani rupee (£3.4 billion) loan with commercial banks to reduce its bulging energy sector debt, the power minister and banking association said.

Plugging unresolved debt across the sector is a top priority under an ongoing $7bn (£5.4bn) International Monetary Fund (IMF) bailout, which has helped Pakistan dig its way out of an economic crisis.

Keep ReadingShow less
Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less