UK fraud office recovers £1.5m from fugitive fraudster

The Serious Fraud Office has seized more than £1.5m in illicit funds from a property tycoon who is on-the-run after being implicated in a fraudulent mortgage scheme worth £49m.  The forfeited money came from the sale of two properties in Birmingham which Nisar Afzal originally bought with the funds from a series of long-term frauds. According to the SFO, Nisar Afzal, 61 from Birmingham, fled Britain for Pakistan in the mid-2000s and is implicated, but not charged, in a series of mortgage frauds for which his brother, Saghir Afzal, was convicted and jailed for 13 years in 2011.  The...