A BRADFORD businessman who used profits from laundering millions of pounds of criminal cash and conning financial institutions to fund a property portfolio and a fleet of luxury sports cars has been jailed for six years.

Property developer Aqeel Khan, 38, acted as a go-to man for criminals across the north of England, the National Crime Agency (NCA) said.

The NCA said Khan admitted money laundering and fraud and was jailed today at Leeds Crown Court.

The agency said he used cash from money laundering and defrauding financial institutions to fund his property investments, including former tram shed in Leeds Road, Thornbury, - a well-known Bradford landmark - which he bought for £2.5m in 2011.

In total, Khan's network had £10m pounds of property assets, the funding for which had come largely from cash laundered through multiple bank accounts to try to conceal its source.

Khan and his employee Mohammed Zulqurnain used insurance brokers as fronts for their criminal enterprise, obtaining finance from legitimate financial institutions for non-existent or vastly inflated insurance policies.

The money was then used to fund property purchases or Aqeel Khan's lifestyle, the NCA said.

Today Aqeel Khan, of Upper Penny Hill Barn, Lane End, Clayton, Bradford, was jailed for six years after admitting money laundering, possessing a forged bank document and contempt of court.

Zulqurnain, 36, of Whetley Hill, Bradford, admitted money laundering and fraud and was jailed for two-and-a-half years.

Aqeel Khan's brother, Atique Anwar Khan, 34, of Ewart Street, Bradford, who controlled and co-ordinated the distribution of cash into third party bank accounts, was given a six month suspended prison sentence.

Another associate, Ajib Khan, 34, of Heath Road, Bradford, who was previously convicted of supplying class A drugs, also admitted laundering money into property. He was given a two year suspended sentence.

The NCA said almost £100,000 of cash contaminated with drugs was seized from Ajib Khan's home address.

NCA branch commander David Norris said: "Aqeel Khan presented himself as a successful and wealthy businessman and property developer.

"In reality this was all a front and he was the head of a large-scale, sophisticated money laundering operation "He was also defrauding financial institutions out of millions of pounds and using the profits to fund his own lavish lifestyle.

"Organised criminals need people who can launder their cash to make it look legitimate and this group provided that service on an industrial scale."

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