Jail for bank scam dealer

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A DISGRACED businessman who is currently serving time for drug dealing has been jailed for masterminding a complex financial scam.

Mohammed Riaz, 40, duped a number of high street banks into handing over more than £300,000, Edinburgh Sheriff Court heard.

The fraudster, who is currently one month into a seven-year jail sentence, made the cash by making fraudulent mortgage applications.

The court heard how he used the names of employees who worked for his company in the Capital to apply for house loans with mortgage brokers.

Riaz, of Manchester, exaggerated how much his staff earned and then used the £312,400 he made from the scam himself.

Sheriff Neil MacKinnon jailed Riaz for 18 months, ordering that he serve the term on the conclusion of his stretch for supplying narcotics.