Benefits fraud tycoon to pay back £750,000

A property tycoon who claimed benefits for a frozen shoulder while making millions from his business was today stripped of assets worth £750,000.

Shabbir Chowdhury, 44, of Walthamstow, told Newham council he was penniless and too sick to work and pocketed £45,000 in handouts over four years.

But he bought 12 properties across east London with loans of £3million by fraudulently filling out mortgage forms. The married father lied to lenders while taking a £105,000 a year salary as a marketing manager. About £4million passed though his bank account over seven years.

He admitted six counts of making a false representation at Inner London crown court. The confiscation hearing adjourned sentencing until 14 December.