Tax cheat convicted for £97million fraud bought historic house worth £4million

15 April 2023 , 17:36

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The Hampstead home is thought to be worth £4million

One of Britain’s biggest tax cheats has a historic house thought to be worth £4million, complete with a blue plaque.

Arif Patel used his crooked company to buy the one-time pad of Edwardian portrait painter Sir William Nicholson in Hampstead.

The historic five-storey terrace, which celebrates the artist with an English Heritage marker, is on one of North London’s poshest streets.

The neighbourhood is home to A-listers such as Harry Styles, Ricky Gervais and Benedict Cumberbatch.

Now, prosecutors want to confiscate it after Patel’s conviction on Tuesday for a £97million fraud.

Patel, 55, and his gang imported and sold knock-off designer gear.

Tax cheat Arif Patel (HMRC)

Patel's associate Jaffar Ali (HMRC/UNPIXS)

They made millions more from false VAT claims by faking exports of clothes and mobile phones – ploughing it into UK property.

Records show Patel’s Preston company Faisaltex Ltd bought the freehold of the Hampstead property.

HMRC said: “Faisaltex Ltd was the heart of his criminal empire. From here he ran the counterfeit clothing operation and false export business.”

Sir William Nicholson lived at the house

Patel and Mohamed Jaffar Ali, 58, were found guilty of fraud and money laundering at Chester crown court.

Twenty-four associates have already been jailed for 116 years.

Patel, said to have fled to Dubai, was convicted in his absence. A warrant is out for Jaffar Ali’s arrest.

Fake Armani underwear exported by Patel (HMRC/UNPIXS)

HMRC’s Richard Las said: “Patel lived a lavish lifestyle at the expense of the law-abiding majority.

“Fraudsters like this pair steal money that funds the NHS and other services.

“We have £78million of the gang’s UK assets restrained and have begun the process to recover all proceeds of crime.”