HMRC sells 5 seized properties for £75M

Posted: 13/10/2023


HMRC has sold five seized properties netting the Treasury £75million. The properties were seized from London based convicted VAT fraudsters Syed and Shakeel Ahmed who were jailed in 2007. They had ten years added to their sentences after refusing to pay back the funds. One of the properties included the palatial Buckinghamshire House. HMRC also recovered a further £10m from the pair and are still looking. The Proceeds of Crime Act can be used to recover assets that are connected to or the proceeds of criminal activity. 

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