A FORMER business associate of the investment firm that took over Bolton [You must be registered and logged in to see this link.] has been jailed for his part in an extensive loan and mortgage fraud racket.
Michael Collins, of Leigh Road in [You must be registered and logged in to see this link.] , was one of the minor conspirators in a [You must be registered and logged in to see this link.] ruse carried out in The Potteries.
Before he could finally be brought to trial he spent six months in prison for contempt of court for faking health problems to try to frustrate proceedings.
Collins was involved at one time with Dean Holdsworth's Sports Shield Investments (SSI) as it entered into negotiations to take control of the Whites — although he never held an official position with either the company or club and his link with SSI was severed before the takeover deal was struck.
The 31-year-old was convicted of conspiracy to commit fraud and production of fraudulent documents at a trial at Warwick Crown Court last month and was jailed for four years and three months on Friday.
Collins was described in court as the "commercial loan broker" and the "conduit" between main player Mehboob Akhtar, also known as Saint Pirwali Pandariman, and his daughter Rushbamani Akhtar.
Staffordshire Constabulary's investigation with Her Majesty's Revenue and Customs (HMRC) focused on the financing of 70 different properties, both commercial and [You must be registered and logged in to see this link.] , in the Fenton area of Stoke-on-Trent.
During the lengthy investigation it came to light that mortgages obtained in Akhtar's name were fraudulent and he had lied on application forms about his earnings, his address, his marital status and his dependants.
Source Bolton news